Daniel Porush (born February 1957, Lawrence, New York, U.S.) is an American businessman who has worked in investment banking and mail order. In 1999, he was convicted of securities fraud and money laundering, for which he served 39 months in prison.
Stratton Oakmont was a Long Island, New York, "over-the-counter" brokerage house founded by Jordan Belfort and Danny Porush. Stratton Oakmont was the largest (OTC) firm in the country during the late 1980s and 1990s. The firm was responsible for the initial public offering of 35 companies, including Steve Madden Ltd., Hemesphere Biopharma, Dualstar Technologies, D.V.I. Financial, Paramount Financial, M. H Meyerson & Co., Czech Industries, M.V.S.I. Technology, Questron Technologies, and Etel Communications. Stratton Oakmont was a part of Pump and dump (P&D) which is a form of microcap stock fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme "dump" their overvalued shares, the price falls and investors lose their money. Stocks that are the subject of pump and dump schemes are sometimes called "chop stocks".
Alabama Securities Commissioner Joseph Borg pushed the formation of a multi-state task force which eventually led to the prosecution of Stratton Oakmont after his office was inundated with complaints regarding the brokerage.
In 2013, the story of Stratton Oakmont was made into Martin Scorsese's black comedy The Wolf of Wall Street based upon Jordan Belfort's 2007 memoir of the same title. In the film Jonah Hill portrays a character named Donnie Azoff, loosely based on Porush as described in Belfort's book. The character's name was changed during development after Porush threatened to sue Paramount Studios if he was depicted.
As of 2014, Porush worked with a Boca Raton, Florida-based Medical supply, Medical equipment company which, according to Forbes magazine, has operated under the names Med-care Diabetic & Medical Supplies, Christian Diabetics and the Christian Healthcare Network.
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