Millions Spent on Gifts to Celebrities <\/strong><\/h2>\nAccording to prosecutors, Low splurged his ill-gotten gains on property in New York and London, Picassos, and movie production. With Riza Aziz, Razak\u2019s stepson, Low has financed major Hollywood movies like Dumb and Dumber To<\/em>\u00a0and Wolf of Wall Street<\/em> — ironic, given the latter’s theme of rampant financial misconduct.<\/p>\nWhile moving in Hollywood circles, Low lavished gifts on his celebrity friends. According to Bradley Hope, author of a book on the 1MDB scandal, Billion Dollar Whale<\/em>, Low once gave Paris Hilton $250,000 in casino chips.<\/p>\nMeanwhile, in 2017, Leonardo DiCaprio turned over a Picasso and a Basquiat given him to him by Low to the FBI.<\/p>\n
Low also bought a yacht, originally named \u201cEquanimity,\u201d which prosecutors claim was purchased almost entirely with cash siphoned from 1MDB. The vessel was seized by Malaysian authorities in 2018 and sold at auction to the Genting Group early this year for $125 million, half its original price.<\/p>\n
The purchase was controversial because, as has been alleged by The Wall Street Journal<\/em>, 1MDB bought energy assets in Malaysia in 2012 through the Genting Group at artificially inflated prices.<\/p>\nGenting then allegedly donated the profits to a foundation controlled by Razak, who used these funds for his 2013 re-election campaign.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kylie Jenner turned 22 on Saturday, and the world\u2019s youngest self-made billionaire — according to Forbes — was determined to celebrate her birthday in style. Jenner chartered $250 million superyacht \u201cTranquillity\u201d for the occasion, a vessel currently owned by Malaysian casino giant Genting, which rents it out for $1.2 million per week. The youngest Kardashian […]<\/p>\n","protected":false},"author":36,"featured_media":111866,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3313],"tags":[],"acf":[],"yoast_head":"\n
Kylie Jenner Hosts Birthday on Yacht Once Owned by Fugitive Billionaire<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n