From a showy way of living in the 1990s to a fraud conviction as the decade drew to a close and a new life as an inspirational speaker, the tale of Jordan Belfort is maybe one of the most studied stories of Wall Street gone wrongâ€"-and how to make it right.
Born in July, 1962, Jordan Belfort was the boy of Max and Leah Belfortâ€"-Jewish accountants living in the Bronx and later Manhattan. Max Belfort was a significant influence in Jordan's life, even going on to become the Chief of one of the most successful, opulent and finally fake Wall St brokerage firms, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of college to make his fortune. After a number of years of working tiny sales jobs, he seemed to make a fast, lucrative and probably illegal practice of brokering in low priced shares. As his operation expanded, he rapidly scaled up his operation to make Stratton Oakmont, a scandalous boiler room company that is alleged to have cheated investors of over $200 million. Belfort's company finalised the plan of selling large amounts of penny stocks and shares to gullible bankers, artificially inflating their price and then selling them for a profitâ€"-often named as a 'pump and dump' schemeâ€"-earning him over $50 million a year. Belfort is considered as the inventor of this suggestion that is considered by analysts and finance corporate management to be the predecessor to the modern Ponzi scheme. At the peak Stratton Oakmont employed over a thousand brokers dealing in stock worth over one bn. dollars.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Federal Agency Bureau of Investigation and the office of the Alabama Stocks Commissioner. He was found guilty of the white-collar crime and served almost 2 years in Fed jail for cash laundering and stocks fraud. In prison, he wrote the manuscript of what would be his hottest 2008 book, 'The Wolf of Wall Street' and in 2009 wrote a follow up titled 'Catching the Wolf of Wall Street'. As 1 piece of his sentence, he was ordered to pay over $110 million of the cash he had gained in fake trading. In 2013, he was charged with being tardy in meeting his atonement commitments and is claimed to be trying to find deadening from the adjudication that ordered him to repay 50% of the money he took from speculators.
Today, Jordan Belfort is an author, expert and motivational speaker who has written about the significancy of corporate ethics in one or two American and worldwide papers and magazines. Through his firm Straight Line, Belfort trains and educates company executives about the best way to use high-return sales methods to generate wealth in a moral manner. He also speaks at some of the most prestigious CXO-level meetings and conventions around the world. His life has been portrayed by Leonardo DiCaprio in the 2013 film 'The Wolf of Wall Street'.
Born in July, 1962, Jordan Belfort was the boy of Max and Leah Belfortâ€"-Jewish accountants living in the Bronx and later Manhattan. Max Belfort was a significant influence in Jordan's life, even going on to become the Chief of one of the most successful, opulent and finally fake Wall St brokerage firms, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of college to make his fortune. After a number of years of working tiny sales jobs, he seemed to make a fast, lucrative and probably illegal practice of brokering in low priced shares. As his operation expanded, he rapidly scaled up his operation to make Stratton Oakmont, a scandalous boiler room company that is alleged to have cheated investors of over $200 million. Belfort's company finalised the plan of selling large amounts of penny stocks and shares to gullible bankers, artificially inflating their price and then selling them for a profitâ€"-often named as a 'pump and dump' schemeâ€"-earning him over $50 million a year. Belfort is considered as the inventor of this suggestion that is considered by analysts and finance corporate management to be the predecessor to the modern Ponzi scheme. At the peak Stratton Oakmont employed over a thousand brokers dealing in stock worth over one bn. dollars.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Federal Agency Bureau of Investigation and the office of the Alabama Stocks Commissioner. He was found guilty of the white-collar crime and served almost 2 years in Fed jail for cash laundering and stocks fraud. In prison, he wrote the manuscript of what would be his hottest 2008 book, 'The Wolf of Wall Street' and in 2009 wrote a follow up titled 'Catching the Wolf of Wall Street'. As 1 piece of his sentence, he was ordered to pay over $110 million of the cash he had gained in fake trading. In 2013, he was charged with being tardy in meeting his atonement commitments and is claimed to be trying to find deadening from the adjudication that ordered him to repay 50% of the money he took from speculators.
Today, Jordan Belfort is an author, expert and motivational speaker who has written about the significancy of corporate ethics in one or two American and worldwide papers and magazines. Through his firm Straight Line, Belfort trains and educates company executives about the best way to use high-return sales methods to generate wealth in a moral manner. He also speaks at some of the most prestigious CXO-level meetings and conventions around the world. His life has been portrayed by Leonardo DiCaprio in the 2013 film 'The Wolf of Wall Street'.
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