From a flamboyant way of life in the 1990s to a crime conviction as the decade drew to a close and a new life as a uplifing speaker, the tale of Jordan Belfort is maybe one of the most studied stories of Wall Street gone wrongâ€"-and ways 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 Boss of one of the most notable, opulent and eventually fake Wall St brokers, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of school to make his fortune. After many years of working tiny sales jobs, he made a fast, profitable and potentially 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 declared to have deceived backers of over $200 million. Belfort's company finalised the plan of selling big quantities of penny stocks 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 perceived as the inventor of this scheme that's considered by analysts and finance executives to be the predecessor to the modern Ponzi scheme. At the peak Stratton Oakmont employed over 1000 brokers dealing in stock worth over one bn. $.
Belfort's illegal empire immediately came under the scanner of the Monetary Crimes Unit of the Federal Agency Bureau of Enquiry and the office of the Alabama Securities Commissioner. He was convicted of the white-collar crime and served just about 2 years in Fed jail for money laundering and stocks crime. In jail, he wrote the manuscript of what would be his hottest 2008 book, 'The Wolf of Wall Street' and in 2009 wrote a chase up titled 'Catching the Wolf of Wall Street'. As one part 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 tardy in meeting his amendment commitments and is claimed to be hunting for relief from the adjudication that ordered him to repay 50% of the cash he took from speculators.
Today, Jordan Belfort is a writer, consultant and motivational speaker who has written about the significancy of company ethics in a few American and world papers and magazines. Through his firm Straight Line, Belfort trains and educates corporate executives about how to use high-return sales methods to generate wealth in a moral demeanour. He also speaks at some of the most distinguished CXO-level conferences and conventions around the planet. 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 Boss of one of the most notable, opulent and eventually fake Wall St brokers, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of school to make his fortune. After many years of working tiny sales jobs, he made a fast, profitable and potentially 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 declared to have deceived backers of over $200 million. Belfort's company finalised the plan of selling big quantities of penny stocks 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 perceived as the inventor of this scheme that's considered by analysts and finance executives to be the predecessor to the modern Ponzi scheme. At the peak Stratton Oakmont employed over 1000 brokers dealing in stock worth over one bn. $.
Belfort's illegal empire immediately came under the scanner of the Monetary Crimes Unit of the Federal Agency Bureau of Enquiry and the office of the Alabama Securities Commissioner. He was convicted of the white-collar crime and served just about 2 years in Fed jail for money laundering and stocks crime. In jail, he wrote the manuscript of what would be his hottest 2008 book, 'The Wolf of Wall Street' and in 2009 wrote a chase up titled 'Catching the Wolf of Wall Street'. As one part 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 tardy in meeting his amendment commitments and is claimed to be hunting for relief from the adjudication that ordered him to repay 50% of the cash he took from speculators.
Today, Jordan Belfort is a writer, consultant and motivational speaker who has written about the significancy of company ethics in a few American and world papers and magazines. Through his firm Straight Line, Belfort trains and educates corporate executives about how to use high-return sales methods to generate wealth in a moral demeanour. He also speaks at some of the most distinguished CXO-level conferences and conventions around the planet. His life has been portrayed by Leonardo DiCaprio in the 2013 film 'The Wolf of Wall Street'.
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