From a flamboyant strategy for living in the 1990s to a fraud conviction as the decade drew to a close and a new life as an inspiring speaker, the tale of Jordan Belfort is probably one of the most studied stories of Wall Street gone wrongâ€"-and the right way to make it right.
Born in July, 1962, Jordan Belfort was the son of Max and Leah Belfortâ€"-Jewish accountants living in the Bronx and later Manhattan. Max Belfort was a serious influence in Jordan's life, even going on to become the Chief of one of the most notable, opulent and finally fraudulent 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 little sales roles, he seemed to make a fast, lucrative and doubtless illegal practice of brokering in low priced shares. As his operation expanded, he quickly scaled up his operation to make Stratton Oakmont, a disgusting boiler room company that is claimed to have deceived backers of over $200 million. Belfort's company finalised the plan of selling large quantities of penny stocks and shares to gullible bankers, artificially skyrocketing 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 perceived as the inventor of this plan that is considered by researchers and finance corporate management to be the predecessor to the modern Ponzi scheme. At the peak Stratton Oakmont employed over 1000 brokers dealing in stock worth over one billion bucks.
Belfort's illegal empire directly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Investigation and the office of the Alabama Securities Commissioner. He was convicted of the white-collar crime and served almost 2 years in Fed prison for cash laundering and securities 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 money he had gained in fake trading. In 2013, he was charged with being delayed in meeting his atonement commitments and is claimed to be looking for deadening from the adjudication that ordered him to repay 50% of the money he took from backers.
Today, Jordan Belfort is a writer, specialist and inspiring speaker who has written about the import of company ethics in one or two American and worldwide papers and magazines. Through his firm Straight Line, Belfort trains and educates corporate executives about how to use high-return sales systems to generate wealth in a moral demeanour. He also speaks at some of the most distinguished CXO-level meetings and conventions around the globe. 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 son of Max and Leah Belfortâ€"-Jewish accountants living in the Bronx and later Manhattan. Max Belfort was a serious influence in Jordan's life, even going on to become the Chief of one of the most notable, opulent and finally fraudulent 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 little sales roles, he seemed to make a fast, lucrative and doubtless illegal practice of brokering in low priced shares. As his operation expanded, he quickly scaled up his operation to make Stratton Oakmont, a disgusting boiler room company that is claimed to have deceived backers of over $200 million. Belfort's company finalised the plan of selling large quantities of penny stocks and shares to gullible bankers, artificially skyrocketing 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 perceived as the inventor of this plan that is considered by researchers and finance corporate management to be the predecessor to the modern Ponzi scheme. At the peak Stratton Oakmont employed over 1000 brokers dealing in stock worth over one billion bucks.
Belfort's illegal empire directly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Investigation and the office of the Alabama Securities Commissioner. He was convicted of the white-collar crime and served almost 2 years in Fed prison for cash laundering and securities 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 money he had gained in fake trading. In 2013, he was charged with being delayed in meeting his atonement commitments and is claimed to be looking for deadening from the adjudication that ordered him to repay 50% of the money he took from backers.
Today, Jordan Belfort is a writer, specialist and inspiring speaker who has written about the import of company ethics in one or two American and worldwide papers and magazines. Through his firm Straight Line, Belfort trains and educates corporate executives about how to use high-return sales systems to generate wealth in a moral demeanour. He also speaks at some of the most distinguished CXO-level meetings and conventions around the globe. His life has been portrayed by Leonardo DiCaprio in the 2013 film 'The Wolf of Wall Street'.
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