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 a uplifing speaker, the story of Jordan Belfort is probably 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 son of Max and Leah Belfortâ€"-Jewish accountants living in the Bronx and later Manhattan. Max Belfort was a major influence in Jordan's life, even going on to become the Director of one of the most successful, opulent and finally fraudulent Wall St brokers, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of college to make his fortune. After several 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 speedily scaled up his operation to make Stratton Oakmont, a shameful boiler room company that is claimed to have mislead backers of over $200 million. Belfort's company finalised the plan of selling big quantities of penny stocks and shares to trusting financiers, 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 scheme that's considered by researchers and finance corporate management to be the predecessor to the modern Ponzi scheme. At its peak Stratton Oakmont employed over 1,000 brokers dealing in stock worth over one billion dollars.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Inquiry 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 jail for money laundering and securities 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 1 part 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 claimed to be hunting for alleviation from the adjudication that ordered him to reimburse 50% of the money he took from backers.
Today, Jordan Belfort is a writer, expert and inspirational speaker who has written about the significancy of company ethics in several American and global papers and mags. Through his firm Straight Line, Belfort trains and educates company executives about the way to use high-return sales systems to generate wealth in a moral demeanour. He also speaks at some of the most distinguished CXO-level conferences 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 major influence in Jordan's life, even going on to become the Director of one of the most successful, opulent and finally fraudulent Wall St brokers, Stratton Oakmont.
Jordan Belfort studied to be a dentist, but dropped out of college to make his fortune. After several 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 speedily scaled up his operation to make Stratton Oakmont, a shameful boiler room company that is claimed to have mislead backers of over $200 million. Belfort's company finalised the plan of selling big quantities of penny stocks and shares to trusting financiers, 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 scheme that's considered by researchers and finance corporate management to be the predecessor to the modern Ponzi scheme. At its peak Stratton Oakmont employed over 1,000 brokers dealing in stock worth over one billion dollars.
Belfort's illegal empire shortly came under the scanner of the Financial Crimes Unit of the Fed Bureau of Inquiry 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 jail for money laundering and securities 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 1 part 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 claimed to be hunting for alleviation from the adjudication that ordered him to reimburse 50% of the money he took from backers.
Today, Jordan Belfort is a writer, expert and inspirational speaker who has written about the significancy of company ethics in several American and global papers and mags. Through his firm Straight Line, Belfort trains and educates company executives about the way to use high-return sales systems to generate wealth in a moral demeanour. He also speaks at some of the most distinguished CXO-level conferences 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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