American film producer Red Granite Pictures Inc has reportedly made a settlement with the US government following a move to seize assets allegedly procured with 1MDB-linked funds.

According to The Wall Street Journal today, the company co-founded by Prime Minister Najib Abdul Razak's stepson Riza Aziz has settled claims on future income from movie rights and other assets sought by the Department of Justice (DOJ) in the latter's forfeiture suits.

WSJ reported the notice of settlement was filed with the US court today but did not disclose any further details.

“We are glad to finally put this matter behind us and look forward to refocusing all of our attention back on our film business,” Red Granite’s attorney Matthew Schwartz was reported as saying.

However, he declined to specify the terms of the agreement.

The DOJ claimed several Red Granite films including “The Wolf of Wall Street” and “Dumb and Dumber To” were financed with money allegedly siphoned from 1MDB, and has filed lawsuits to seize future earnings from the movies involved.

Through a series of forfeiture suits, the DOJ has applied to seize over US$1 billion in assets in funds it claims had been embezzled from 1MDB, Najib's pet project.

Prior to this, the US court this week granted the DOJ a stay on the forfeiture suits to avoid jeopardising an ongoing criminal investigation into the underlying money laundering allegations.

Najib has denied using 1MDB funds for personal gain, and the attorney-general has cleared him of any wrongdoing.