August 10, 2022

Hear How Malaysian Money Illegally Financed a Hollywood Movie at the ACFE Global Fraud Conference

global fraud conference

Clare Rewcastle Brown was in Malaysia investigating deforestation when she uncovered a corruption scandal that would lead her to Hollywood, the U.S. government, Las Vegas, diamond jewelry, rare art, and more..

1MDB, Malaysia’s sovereign wealth fund, was set up to stimulate the country’s economy. Instead, it became a personal bank account for the country’s elite. Investigators say at least $4.5B was misappropriated from the fund.

Following the money trail led Brown and other investigators to $30 million spent on jewelry for a Malaysian politician’s wife, $250 million for a 300-ft yacht, a $30 million penthouse once owned by Beyoncé and Jay-Z, $25 million in gambling accounts at Las Vegas casinos, $8 million in jewelry that wound up in the hands of Australian model Miranda Kerr, and $100 million in art.

The Wolf of Hollywood

That’s where the story starts to get interesting. $3.2 million was spent on a Picasso, which was given to actor Leonardo DiCaprio as a birthday present. But the connection to Hollywood and DiCaprio doesn’t end there. $100 million was sent to Red Granite Pictures, which financed the DiCaprio-led and Oscar®-nominated The Wolf of Wall Street.

Red Granite recently reached an undisclosed settlement with the U.S. government. Kerr and DiCaprio have both returned their gifts.

There are a lot more juicy details to this story, but why read about them here when you can get them from the source? You can hear Brown’s full story and more at the upcoming 29th Annual Association of Fraud Examiners Global Fraud Conference.

Learn more or register now >

Power up your fraud network, skills, and career

The ACFE Global Fraud Conference will be held from June 17-22 at the Mandalay Bay Resort and Casino in Las Vegas.

In addition to Clare Rewcastle Brown, the keynote speakers are:

  • Bryan Fogel, Academy Award® winner, director and writer of ICARUS
  • Martin Ford, futurist, artificial intelligence expert, and author of New York Times bestseller, Rise of Robots
  • Rob Wainwright, Director of Europol

Why else should I attend?

Attending the conference will earn you up to 40 CPE credits.

You’ll boost your fraud-fighting skills by choosing from 100+ educational sessions led by experts from the world’s top organizations. Hear their stories, learn practical skills, and return to the office with strategies you can use in your organization.

And you can plug into a network of 3,000+ attendees. Having a strong network can be a valuable asset in the fight against fraud.

98% of last year’s attendees said they would recommend the conference to a colleague and that the information they learned will help in their daily job responsibilities. So unless you’re part of the 2% of people who never like anything, you’ll probably enjoy yourself and gain some useful skills.

Ready to go?

Does the conference sound like something that interests or could benefit you? Click the link below to learn more about it or register now.

Power up at the ACFE Global Fraud Conference >>

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Spreadsheets Suck, Say Clients

We all have that one friend whose door is always open to us. This person has been with you through all the ups and downs, and uneventful middle parts between. You trust this person because they’ve never let you down, their advice is always solid. What if clients thought of you as that friend? What […]

Is It Time to Renovate Your Practice?

Remember those home renovation reality shows that were all over the place in the 2010s? The formula was always the same: find the jankiest, most run-down home on the market, gut it, and somehow end up with a beautiful property that more than made up for the renovation costs upon sale. The “before” homes are […]