Jordan Belfort, who served because the inspiration for the hit 2013 movie “Wolf of Wall Street,” is suing the manufacturing firm behind the movie for $300 million, saying they lied to him when he first agreed to promote them his rights.
In the lawsuit, Belfort states Red Granite Productions co-founder Riza Aziz represented the corporate as a “legitimate and legally funded film production company.” Belfort says he relied on that illustration when he agreed to make the take care of Red Granite, which finally launched “Wolf of Wall Street” in 2013. The movie revamped $300 million on the field workplace.
Belfort alleged that after the movie’s launch, he realized that Red Granite was not, actually, “legitimately or legally funded when they acquired Belfort’s rights.” He says he was “blindsided” to study concerning the true supply of the corporate’s funding — Aziz has been accused of laundering $248 million into Red Granite — and says Red Granite and Aziz “concealed these criminal acts and funding sources from him.”
“Had he known,” the lawsuit states, “he certainly would have never sold the rights.”
In the lawsuit, Belfort says Red Granite has “tainted” his rights going ahead and has failed to maximise these rights because of the highly-publicized scandal.
Belfort is suing for fraud, negligent misrepresentation, violation of the RICO Act, breach of contract and breach of the covenant of excellent religion and honest dealing. He is searching for $300 million in damages and needs his take care of Red Granite voided.
Matthew L. Schwartz of Boies Schiller Flexner, an lawyer for Red Granite, tells TheWrap, “Jordan Belfort’s lawsuit is nothing more than a desperate and supremely ironic attempt to get out from under an agreement that for the first time in his life made him rich and famous through lawful and legitimate means.”
Pamela Chelin contributed to this report.
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