In 1993 Wolf helped finance the unsuccessful American fire apparatus company Firewolf Industries, housed in a former Piper Aircraft factory building near Lakeland, Florida, US. The actor and vintage car collector L. Christian Mixon worked as a sales manager for this company briefly in 1993.
In 2008, he was involved in the so-called Patria affair, a corruption scandal involving the Finnish company Patria. The Finnish broadcasting company YLE's investigative program MOT made claims that he was a mediator in the paying of bribes to Slovenian government officials, including Prime Minister Janez Janša. Both Wolf and Janša rejected all accusations as being untrue. Finnish police issued an arrest warrant against him, but so far he has not been apprehended.