The 1MDB investigation is the US Department of Justice's largest-ever antikleptocracy case.

US prosecutors this week ramped up their efforts to seize assets allegedly purchased with money siphoned from a Malaysian scandal-warped fund, as they filed lawsuits to claim Picasso artwork given to Leonardo DiCaprio, diamonds given to a model and a megayacht. 

The US Department of Justice on Thursday filed suits aiming to recover $540 million of assets that it alleges were bought with dirty cash stolen from 1Malaysia Development Berhad, Malaysia's state-owned development fund known as 1MDB. The fund is currently the subject of probes into alleged money laundering in at least six countries including the US, Singapore and Switzerland. 

The US is now seeking to claim more than $1.6 billion of assets allegedly connected to 1MDB. 

In its latest suit, the DoJ is targeting a Picasso painting given to Hollywood star DiCaprio, $8 million of jewelry given to model Miranda Kerr and a megayacht known as the Equanimity. 

1MDB has repeatedly denied any wrongdoing.

“1MDB highlights that it is not a party to the civil lawsuit nor has it been contacted by the DoJ in relation to this matter,” the fund said in an emailed statement. “1MDB notes that the civil lawsuit does not contain any appendices with documentary proof or witness statements to support the allegations made by the DOJ.

“As previously stated, 1MDB will fully cooperate with any foreign lawful authority, subject to international protocols governing such matters and the advice of the relevant domestic lawful authorities.”

Seizure Attempts

The US government is also trying to seize the rights to movies Dumber and Dumber To, starring comedian Jim Carrey, and Daddy's Home.

The rights to both movies are held by Red Granite Pictures, a production company co-founded and chaired by Riza Aziz, a stepson of Malaysia's Prime Minister Najib Razak. 

Red Granite Pictures also produced Martin Scorsese's 2013 blockbuster Wolf of Wall Street, another movie the US alleges was funded using funds stolen from 1MDB. 

The raft of lawsuits filed against assets associated with 1MDB underline the gravity of the global scandal at the fund, which was launched by Najib to spur economic development in Malaysia. 

The fund borrowed more than $13 billion, and the DoJ alleges that billions of dollars were stolen by people close to the prime minister. 

Jho Low

One person at the epicenter of global probes is Low Taek Jho, more commonly known as Jho Low, a flamboyant Malaysian financier with Hollywood ties who the US claims was a kingpin in a plot that allowed billions of dollars to be siphoned from 1MDB. 

Low is a friend of Riza Aziz and got to know DiCaprio in 2009, people familiar with their relationship have reportedly said, and Low later gave the actor several gifts that the US alleges were paid for using money from 1MDB. Among these gifts were several paintings and an Oscar won by Marlon Brando.

This is the DoJ's largest-ever antikleptocracy case.

Family Wealth Report will continue to track updates in this case and will update news coverage accordingly.