From a flamboyant strategy for living in the 1990s to a crime conviction as the decade drew to a close and a new life as an inspiring speaker, the story 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 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 eventually fraudulent Wall St brokers, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of college to make his fortune. After many years of working small sales roles, he seemed to make a fast, profitable and potentially 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 deceived backers of over $200 million. Belfort's company finalised the plan of selling large quantities of penny shares to gullible bankers, artificially climbing 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 is considered by analysts and finance corporate executives to be the predecessor to the modern Ponzi scheme. At its peak Stratton Oakmont employed over a thousand brokers dealing in stock worth over one bn. $.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Investigation and the office of the Alabama Instruments Commissioner. He was found guilty as charged of the white-collar crime and served about 2 years in Fed jail for money 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 delayed in meeting his atonement commitments and is proclaimed to be trying to find deadening from the adjudication that ordered him to reimburse 50% of the money he took from investors.
Today, Jordan Belfort is a writer, consultant and inspirational speaker who has written about the import of company ethics in a few American and global papers and mags. Through his firm Straight Line, Belfort trains and educates corporate executives about how to use high-return sales strategies to generate wealth in a moral manner. He also speaks at some of the most celebrated CXO-level conferences 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 eventually fraudulent Wall St brokers, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of college to make his fortune. After many years of working small sales roles, he seemed to make a fast, profitable and potentially 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 deceived backers of over $200 million. Belfort's company finalised the plan of selling large quantities of penny shares to gullible bankers, artificially climbing 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 is considered by analysts and finance corporate executives to be the predecessor to the modern Ponzi scheme. At its peak Stratton Oakmont employed over a thousand brokers dealing in stock worth over one bn. $.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Investigation and the office of the Alabama Instruments Commissioner. He was found guilty as charged of the white-collar crime and served about 2 years in Fed jail for money 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 delayed in meeting his atonement commitments and is proclaimed to be trying to find deadening from the adjudication that ordered him to reimburse 50% of the money he took from investors.
Today, Jordan Belfort is a writer, consultant and inspirational speaker who has written about the import of company ethics in a few American and global papers and mags. Through his firm Straight Line, Belfort trains and educates corporate executives about how to use high-return sales strategies to generate wealth in a moral manner. He also speaks at some of the most celebrated CXO-level conferences 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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