From a showy way of living in the 1990s to a crime conviction as the decade drew to a close and a new life as an inspirational speaker, the tale of Jordan Belfort is perhaps 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 significant influence in Jordan's life, even going on to become the Boss of one of the most notable, opulent and ultimately fake Wall St brokerage firms, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of school to make his fortune. After many years of working small sales roles, he seemed to make a fast, worthwhile and probably illegal practice of brokering in low priced shares. As his operation expanded, he quickly scaled up his operation to make Stratton Oakmont, a scandalous boiler room company that is declared to have mislead investors of over $200 million. Belfort's company finalised the plan of selling large quantities of penny stocks and shares to trusting 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 considered as the inventor of this plan that is considered by analysts and finance corporate management to be the predecessor to the modern Ponzi scheme. At its peak Stratton Oakmont employed over 1000 brokers dealing in stock worth over one bln $.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Enquiry and the office of the Alabama Stocks Commissioner. He was found guilty as charged of the white-collar crime and served just about 2 years in Fed prison for cash laundering and instruments 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 proclaimed to be looking for relief from the adjudication that ordered him to reimburse 50% of the money he took from investors.
Today, Jordan Belfort is an author, consultant and inspirational speaker who has written about the significance of corporate ethics in several American and global papers and mags. Through his firm Straight Line, Belfort trains and educates company executives about how to use high-return sales systems to generate wealth in a moral manner. He also speaks at some of the most prestigious 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 significant influence in Jordan's life, even going on to become the Boss of one of the most notable, opulent and ultimately fake Wall St brokerage firms, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of school to make his fortune. After many years of working small sales roles, he seemed to make a fast, worthwhile and probably illegal practice of brokering in low priced shares. As his operation expanded, he quickly scaled up his operation to make Stratton Oakmont, a scandalous boiler room company that is declared to have mislead investors of over $200 million. Belfort's company finalised the plan of selling large quantities of penny stocks and shares to trusting 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 considered as the inventor of this plan that is considered by analysts and finance corporate management to be the predecessor to the modern Ponzi scheme. At its peak Stratton Oakmont employed over 1000 brokers dealing in stock worth over one bln $.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Enquiry and the office of the Alabama Stocks Commissioner. He was found guilty as charged of the white-collar crime and served just about 2 years in Fed prison for cash laundering and instruments 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 proclaimed to be looking for relief from the adjudication that ordered him to reimburse 50% of the money he took from investors.
Today, Jordan Belfort is an author, consultant and inspirational speaker who has written about the significance of corporate ethics in several American and global papers and mags. Through his firm Straight Line, Belfort trains and educates company executives about how to use high-return sales systems to generate wealth in a moral manner. He also speaks at some of the most prestigious 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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