AG 102 - Jordan Belfort
About
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Story
Jordan Belfort, better known as the real-life "Wolf of Wall Street", is a smooth-talking salesman whose Stratton Oakmont brokerage house focuses mostly on penny stocks, a high-risk endeavor for investors. Belfort's minions offer investors a chance to purchase blue-chip stocks, but then pressure their clients to invest in questionable penny stocks, like karate schools and no-name tech companies. Stratton Oakmont is a resounding success and Belfort is soon making $50 million a year, but Stratton's business model involves pumping and dumping stocks. In 1994, the SEC is able to force Belfort out of Stratton and bars him from selling securities. In 1998, the FBI arrests him for money laundering and stock manipulation. Belfort pleads guilty to the charges against him, but agrees to help the FBI and the Department of Justice by snitching on his associates and employees. The government says Stratton took $200-million from over 1,500 investors. Belfort ultimately spends 22 months in a federal ...