As a seasoned investigative journalist who’s seen my fair share of shady deals and underhanded schemes, I can’t help but feel a mix of awe and disgust when I delve into the sordid tale of Jho Low, the Malaysian financier turned fugitive. From rubbing elbows with Hollywood royalty to allegedly trying to buy his way into the White House, this man’s story is as captivating as it is disheartening.
You don’t necessarily have to watch “The Wolf of Wall Street” to understand that the life of a global tycoon isn’t as glamorous as people make it out to be. Jho Low, who experienced this firsthand, is a prime example. He immersed himself in the glitzy world and enjoyed its perks, but now he’s facing the consequences. In the early 2010s, he managed to insinuate himself into Hollywood’s elite through sheer financial might and the influence it buys, making him the most attractive figure for celebrities at that time.
In a vibrant and impactful manner, the Malaysian entrepreneur became known as the go-to individual for making things happen. If you were seeking financial backing to launch your cinematic venture, you would find yourself drawn towards his luxurious yacht. Through Red Granite Pictures, a production company he jointly owned with the stepson of the former Prime Minister of Malaysia, Najib Razak, he leveraged his influential position within the Malaysian government to expand his domain, funneling funds into the pockets of prominent figures in Hollywood.
Jho Low Got The Wolf of Wall Street Off the Ground
2013’s “The Wolf of Wall Street” was a pinnacle achievement in Leonardo DiCaprio’s career, revitalizing a movie that other producers found too risky to produce.
Yes, even rich people need to plead for money. Financiers are secretly the most pivotal players in the film world. With enough cash, anyone can buy respect, class, friends, political connections, and the adoration of Victoria’s Secret supermodels. The caliber of people hurling themselves at Low’s feet, groveling for his attention, was comical but also alarming.
Indeed, there was always going to be a snag in the story. It turns out that Low was not an honest man. He was involved in fraud, bribery, conspiracy, and money laundering, all to finance the extravagant lifestyle of a well-known narcissist and global playboy, filled with supermodels on yachts. It’s reminiscent of a thrilling movie plot, but just like any other film you’ve ever watched, the law enforcement eventually put an end to this affair as well.
Following the conclusion of the Oscar events and high-profile movie premieres, it came to light that Martin Scorsese and Leonardo DiCaprio unwittingly collaborated with an international swindler who drained his nation’s resources. It appears that crime does pay, at least for Low, but that could soon change. This is the tragic tale of Jho Low, a man willing to go to any lengths to mingle with the global elite, and thus far, has managed to get away with it. Jordan Belfort, you should be green with envy.
The Mysterious Malaysian Mogul Who Made It Rain
Before 2013, Jho Low’s film producing credits were modest and unexceptional, reaching a high point with “The Wolf of Wall Street” and “Dumb and Dumber To”. It is likely that neither movie would have made it to the red carpet without his help in securing funding. It might surprise you to know that even a well-known director like Martin Scorsese often faced difficulties in obtaining funds for his films. In fact, he struggled to finish “Silence” and “The Irishman”, and often found himself stuck in a situation known as ‘development hell’ alongside Leonardo DiCaprio.
The nature of his work (containing violence, profanity, religious themes, and long durations) doesn’t align with major studios seeking safe, commercially viable (or, in other words, less risky and more generic) content suitable for a wide audience. In 2013, when discussing this topic with Scorsese, Leonardo DiCaprio told Vulture that larger-scale, R-rated dramas like “Blood Diamond” or “The Departed” were no longer being financed. However, Red Granite stepped in to provide the necessary funding, without requiring any changes to soften the R-rating to PG-13, thus preserving the gritty realism Scorsese required for his work.
At that time, it was not surprising to see a mysterious individual suddenly appearing with endless amounts of money, akin to distributing candy on Halloween. It’s not uncommon for extremely wealthy foreign investors to flaunt their wealth by showering it around. For instance, the Saudi Arabian Cultural Development Fund has recently poured resources into regional filmmakers, which is quite unexpected given the country’s conservative nature, even going so far as to collaborate with the WWE.
It appears that Low was quite similar to the character Jordan Belfort from The Wolf of Wall Street, as both lived extravagant lifestyles. His social life centered around his yacht and frequent consumption of alcohol. Networking was a key pastime for him, which included inviting celebrities to attend his lavish yacht parties for more than just film opportunities. Rumor has it that he utilized his wealth to acquire expensive jewelry for his model girlfriend, Miranda Kerr. Quickly gaining notoriety as the most audacious and captivating producer in the industry, it was later revealed that the money wasn’t actually his own.
The Jho Low Ship Runs Aground
In 2009, leveraging his ties with the prime minister, he devised a plan for an investment trust. Over the course of six years, vast sums of money were illegally moved from Malaysian investment accounts into Red Granite (who, predictably, denied any knowledge of Low’s scheme). The supposed purpose of this slush fund was to support Malaysia’s infrastructure and services. However, through his friendship with the PM, Low managed to get hold of the funds, which they then used as their own personal bank account. This discovery left Malaysians outraged when they realized their money was being used for productions like “Daddy’s Home”.
As an admirer of truth and transparency, I’d like to shed light on a significant scandal that made headlines – the 1Malaysia Development Berhad (1MDB) case. Often referred to as just 1MDB, this organization is said to have had approximately $4.5 billion misappropriated from it. This act of theft didn’t stop at the grassroots level; influential figures within the Malaysian elite were implicated in this scheme. Among these individuals was Prime Minister Najib Razak, who was found guilty by the courts for swindling his own constituents through a complex laundering operation that moved money from one nation to another.
According to allegations, Aziz and his associates are said to have misused funds for their personal gain. They reportedly bought high-end properties in New York and London and made individual investments with these funds. The seizure of these assets would further increase the nearly $1.1 billion that the U.S. Department of Justice has assisted in retrieving and returning to the Malaysian public, which was initially taken from 1MDB.
As a movie critic, I must confess that I’ve seen my fair share of films financed through less-than-reputable means, with crime syndicates often dipping their toes into the movie business. Yet, this case transcends those boundaries. Stolen funds were channeled into film production and subsidizing a high-profile criminal’s lifestyle, which included hosting lavish yacht parties for celebrities like Emily Ratajkowski, Kylie Jenner, and Kim Kardashian. These stars were seen twerking with the wannabe Jay Gatsby, all in the pursuit of his affections – or rather, the Malaysians’ money.
From First-Class Swag to Fugitive Status
It’s not just that Low’s schemes were confined to models, actors, and struggling directors seeking investors. In fact, with his connections, particularly with Leo DiCaprio, he attempted to secure an audience with President Barack Obama during his tenure. During the trial, it was revealed that the Wolf of Wall Street actor testified that Low was in discussions about making substantial donations, supposedly over $30 million, to Obama’s re-election campaign in 2012, with the aim of gaining access to the most influential figure globally.
It’s said that Low attempted to contact members of the Trump family in an effort to aid him during the 1MDB scandal. However, his attempt to use his influence never came to fruition as his scheme crumbled. The 1MDB is no longer operational, Malaysian officials implicated in the scandal have been disgraced, Low’s former partner Kerr had to surrender her jewelry due to asset forfeiture, and all of Low’s associates distanced themselves from him after he was convicted in a trial held in his absence. Furthermore, Red Granite Pictures stopped producing films in 2017. Since the financier behind Martin Scorsese’s projects is now out of the picture, don’t hold your breath for that Sinatra biopic.
At present, Low remains at large, facing charges amounting to hundreds of millions of dollars due to embezzlement. The sale of Basquiat, Warhol, Picasso, and Monet paintings is a small fraction of the assets seized after the fraudulent scheme was uncovered. Earlier this year, a documentary named “Man on the Run” was released, focusing on Low and his partner-in-crime Razak. The film includes the individual who blew the whistle on the scam and the journalist who publicized it, Clare Rewcastle Brown.
Despite achieving a high level of fame, Low has had to adopt a low profile and live a humble life due to his connections with corrupt officials that have helped him evade various international authorities. He is often linked to Macau, though he now travels more discreetly. His extravagant floating mansion, Equanimity, is up for sale for $250 million, but it comes with questionable characters like bent politicians and high-priced socialites attached.
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2024-09-16 04:02