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Currently, he is still paying back his investors using the proceeds that he gets from his two autobiographies. The court ordered him to pay back the money that he owed his investor but he was able to pay half of it. With this scheme, his investors have lost more than $200 million in total. He was famous for his pump and dump scheme which involves selling stocks at higher market prices than the actual before dumping the overvalued shares which resulted to the falling of prices.
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Not before long, he cooperated with the FBI which resulted to a lesser punishment of serving prison time for twenty two months. In 1998, he was indicted for crimes including money laundering, drug addiction and securities fraud. Moreover, his life story as one of Wall Street’s fast rising star was written in magazines such as The Wall Street Journal, The New York Times, The Los Angeles Time, Paris Match, the Rolling Stone, Le Monde and Forbes.ĭue to his exorbitant lifestyle and the many complaints from his investors, Alabama Securities Commissioner Joseph Borg created a task force which led to the prosecution of Jordan Belfort and Stratton Oakmont. While working as Wall Street’s notorious stock broker, he also acted as consultant to many companies. Because of his notoriety, he was dubbed as the Wolf of Wall Street which he later wrote a book about.
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He is an owner of a yacht named Nadine which he reportedly sank out of spite near the east coast of Sardinia in Italy. During his early career operating a boiler room, he was a notorious figure in the finance industry.Īside from raising incredulous amounts of money from his clients, he is also known for his lavish lifestyle, insane personality and drug addiction. While operating his boiler room, he employs 1,000 stock brokers who con people to buying bad investments from them. Because of his business, he was able to raise more than $1 billion in its equities which made him and most of his staffs rich. In the early 1990s, he founded the Stratton Oakmont which serves as an outbound call center business that sells questionable investments to the unaware public. He started with integrity in Wall Street but eventually was drawn to the lies in the industry. The work of his parents introduced the young Jordan Belfort to the world of Wall Street. Both his mother and father work as accountants while his brother is one of the respected lawyers in the city. He was born in a decent family from New York. The son of Max and Leah Belfort, Jordan was born in July 9, 1962. Today, he has made a comeback to give people important life lessons that he learned from his transgression. But We Have To Pretend We Know.Jordan Belfort is an American motivational speaker and author who built the biggest sales empire in Wall Street – the Stratton Oakmont – in 1990 before it came crashing down due to intrigue, scandal and fraud. 20 "Nobody Knows If A Stock's Going Up, Down Or F***ing Sideways, Least Of All Stockbrokers. The audience can also relate to some of the quotes and dialogue even though they've most likely never been in a similar situation to any of the characters in the movie. Although it has overall good reviews, some feel the movie has some questionable commentary on business and personal ethics, but there are surprisingly still moments where the characters give helpful, profound, or hilarious advice. Updated on April 23rd, 2021 by Kristen Palamara: Scorsese's film, based on the true story of Jordan Belfort, is widely beloved and has pretty positive ratings from Rotten Tomatoes and IMDb. Here are some quotes from The Wolf of Wall Street that we can all relate to. That’s the message – a life of excess, as the name would suggest, is too much to handle. The film’s sense of humor and accurate depiction of Wall Street antics do make that lifestyle look fun. RELATED: The Wolf Of Wall Street: 5 Reasons It's A Great Satire (& 5 Why It Glorifies Jordan Belfort's Lifestyle) While the movie opened to positive reviews, it was criticized by some viewers who felt that it glamorized Belfort’s white-collar criminal lifestyle. Martin Scorsese’s The Wolf of Wall Street is a darkly comic crime epic that tells the true story of stockbroker Jordan Belfort’s rise to power and fall from grace.