Acknowledgement to the late Larry Lujack for the title, “Cheap Trashy Showbiz Report.” In cheap trashy news from Hollywood, it has been learned that the Leonardo DiCaprio Foundation is under investigation by the U.S. Justice Department, in connection with a Malaysian entity called 1MDB and alleged embezzlement. Bono (whom I call Bono B. Bono) is tangentially connected to both the Leonardo DiCaprio Foundation and to the Clinton Foundation.
Thus reads the description for my latest video, “Cheap Trashy Showbiz Report”, published to YouTube on August 25, 2016. The clip, which clocks in at 9 minutes and 38 seconds, can hopefully be viewed at the top of today’s blog entry.
On July 20, 2016, the U.S. Justice Department filed a complaint which implicated the Leonardo DiCaprio Foundation (LDF) “in the planet’s largest embezzlement case, totaling more than $3 billion siphoned from a Malaysian sovereign wealth fund called 1MDB.”  (Not to be confused with IMDB.)
“What the heck is 1MDB?”, you might ask. All the so-called “news” we get here lately in the United States is “Donald Trump this…” and “Hillary Clinton that…” 1MDB stands for “1Malaysia Development Bhd”. It was established by Malaysia’s Prime Minister Najib Razak in 2009 for seemingly beneficent purposes but “started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.” 
And here is where things get juicy in a story from The Hollywood Reporter. The Leonardo DiCaprio Foundation was created by none other than (you guessed it) Leonardo DiCaprio. The LDF on the surface does these nice things like using “the world’s first debt swap” to promote “ocean conservation and climate resiliency.” 
But Leonardo DiCaprio had a friend: Jho Low, 35, a bespectacled Malaysian businessman and party boy “at the center of the 1MDB scandal.” Jho Low, according to The Hollywood Reporter, was a regular drinking buddy of DiCaprio’s. And Jho Low, says the Justice Department, used roughly $1 billion in 1MDB funds for a personal shopping spree. Among the items purchased: a $39 million Hollywood Hills mansion a few doors down from DiCaprio. 
Assets of 1MDB were donated to the Leonardo DiCaprio Foundation, noble doer of good deeds. The LDF has a global finance chairman right out of the pages of F. Scott Fitzgerald: he is Milutin Gatsby, as in “The Great Gatsby.” Annual LDF galas are described as “freewheeling bacchanals” by The Hollywood Reporter. Does the debt-swapping global finance Gatsby get an expense account besides? These things are being looked into, but there is a transparency problem. The Leonardo DiCaprio Foundation was set up as a donor-advised fund (not a non-profit), yet is under the umbrella of the non-profit California Community Foundation. This means the LDF is not required to file itemized public disclosures about its own revenue, expenditures and disbursements. Pretty neat, huh? At one level you are a “donor-advised fund” while at another level you are shaded by a non-profit. 
And what of the man I call “Bono B. Bono”, in sarcasm at the pretentiousness of just “Bono”? Bono B. Bono was spotted at a July 20 Leonardo DiCaprio Foundation event in St. Tropez. He is also spotted in connection with the notorious Clinton Foundation: Bono B. Bono is “a regular at [Clinton] foundation events,” reports the Washington Post. 
——- Sources ——-
 “Leonardo DiCaprio, the Malaysian Money Scandal and His ‘Unusual’ Foundation”, by By Gary Baum. The Hollywood Reporter, August 17, 2016. http://www.hollywoodreporter.com/features/leonardo-dicaprio-malaysian-money-scandal-920199
 “1MDB: The case that has riveted Malaysia”, by BBC News, July 22, 2016. http://www.bbc.com/news/world-asia-33447456
 Leonardo DiCaprio Foundation web site. http://leonardodicaprio.org/
 “Bono, Prince of Bahrain and Clinton Foundation donors given access to Hillary’s inner circle, emails reveal,” by Rosalind S. Helderman, Spencer S. Hsu and Tom Hamburger. Washington Post, August 23, 2016. (Reposted at National Post, Canada). http://news.nationalpost.com/news/world/bono-prince-of-bahrain-and-clinton-foundation-donors-given-access-to-hillarys-inner-circle-emails-reveal?