Jordan Belfort, the inspiration for the movie The Wolf of Wall Street, is now suing the film production company Red Granite Pictures for $300 million.
Belfort is significantly damaged by Red Granite’s tainting of his book/story rights, coupled with Red Granite’s inability and/or refusal to exploit and maximize the rights acquired from Belfort as required by contract, due to the highly publicized scandal and amid the allegations of their direct involvement
attorney Bryan Freedman said Thursday in the complaint, according to the Hollywood Reporter.
Belfort, 57, said he agreed to sign over the rights to his story under the assumption that Red Granite was funded legitimately. The Wolf of Wall Street producer Riza Aziz was arrested last year for allegations he used the movie to launder money.
The Department of Justice has sought to seize all future profits from the movie. Belfort is looking to get his rights deal voided because he contends it will be hard for Red Granite to monetize his story in the future.
While it is unlikely that he could win money from the company, a successful lawsuit could allow him to cut a new movie deal with another for his followup book, Catching the Wolf of Wall Street. The book is advertised as “the continuation” of Belfort’s “spectacular flameout and imprisonment for stock fraud.”
