Jordan Belfort
| Jordan Belfort | |
|---|---|
| Born | July 6, 1962 Queens, New York, United States |
| Nationality | American |
| Conviction(s) | Securities fraud, Money laundering[1] |
| Penalty | 4 years in federal prison, $110 million in restitution [1] |
| Conviction status | Released April 2006 after 22 months [1][2] |
| Occupation | Author Entrepreneur Motivational speaker |
| Spouse | Denise (divorced)[3] Nadine (divorced; 2 children)[1] |
Jordan Belfort (born July 9, 1962) is an American author and motivational speaker who was convicted of crimes related to stock market manipulation and running a boiler room for which he spent 22 months in jail.[4]
Life and career [edit]
Belfort was born in Queens, New York, the son of Leah and Max Belfort, accountants.[1][5]
In the 1990s, he founded brokerage firm Stratton Oakmont which functioned as a boiler room, and developed a hard-partying lifestyle, which included a serious drug addiction (namely Quaaludes).[1][6] The firm also served as inspiration for the 2000 film Boiler Room.[7] Stratton Oakmont employed over 1000 stockbrokers and was involved in stock issues totaling more than $1 billion, including an equity raising for footwear company Steve Madden Ltd.
Belfort was the final owner of luxury yacht the Nadine (renamed after his second wife, a British-born model) originally built for Coco Chanel. In June 1997, it sank off the east coast of Sardinia. The Italian Special Forces were called to rescue all aboard the vessel. Belfort has said he insisted on sailing out in high winds against the advice of his captain, resulting in the vessel's sinking when waves smashed the foredeck hatch.[8]
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.[9]
Belfort was indicted in 1998 for securities fraud and money laundering. After cooperating with the FBI, he served twenty-two months in federal prison for a pump and dump scheme, which resulted in investor losses of approximately $200 million. Belfort was ordered to pay back $100 million that he took from stock brokers.[10]
Reportedly sober since 1998, Belfort's two bestselling memoirs, The Wolf of Wall Street and Catching the Wolf of Wall Street, have been published in approximately forty countries and translated into eighteen languages.[4] His life story is currently being turned into a motion picture by Red Granite Pictures, with Leonardo DiCaprio, Jonah Hill among others set to star and Martin Scorsese set to direct. Filming began in August 2012.[11] He has toured internationally as a motivational speaker.[4] Belfort currently resides in Los Angeles.[12]
References [edit]
- ^ a b c d e f Tom Leonard (2008-02-25). "Jordan Belfort: Confessions of the Wolf of Wall Street". Telegraph. Retrieved 2013-04-03.
- ^ "Federal Bureau of Prisons". Bop.gov. 2006-04-28. Retrieved 2013-04-03.
- ^ http://www.dailymail.co.uk/home/moslive/article-507672/The-wicked-wolf-Wall-Street.html
- ^ a b c "Wolf of Wall Street back on the prowl: Jordan Belfort". TheAustralian.News.com.au.
- ^ [1]
- ^ "Who's Jordan Belfort? I'll Tell You Exactly Who He Is". CNBC.com.
- ^ "Random House".
- ^ "Motor Yacht Nadine".
- ^ Hubbard, Russell (March 21, 2010). "Joe Borg, Alabama Securities Commission boss, has reputation of being tough on crooks". The Birmingham News. Retrieved January 25, 2011.
- ^ "Jordan Belfort - Interview from Sunday Profile". ABC.Net.au.
- ^ Fleming, Mike (April 19, 2012). "TOLDJA! Martin Scorsese, Leonardo DiCaprio Commit To 'The Wolf Of Wall Street'". Deadline.com. PMC. Retrieved August 11, 2012.
- ^ Thomas Jr., Landon (September 11, 2007). "In the Ashes of His Life as a Broker, Inspiration". NYTimes.com. Retrieved September 8, 2011.
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