| Jordan Belfort | |
|---|---|
| Born | July 6, 1962 Queens, New York, United States |
| Nationality | American |
| Occupation | Author Entrepreneur Motivational speaker |
| Known for | His history as a stock market manipulator and boiler room operator. |
| Website | |
| jordanbelfort | |
Jordan Belfort (born July 9, 1962) is an American author, motivational speaker and former white collar criminal who spent 22 months in jail for offences related to stock market manipulation and running a boiler room.[1] 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).[2][3] The firm also served as inspiration for the film Boiler Room.[4] As the owner of Stratton Oakmont, he employed over 1000 stockbrokers and was involved in stock issues totalling more than $1 billion, including an equity raising for footwear company Steve Madden Ltd.
Belfort was the final owner the 37m yacht the Nadine (renamed after his second wife) originally built for Coco Chanel which by the time it was sunk had been extended to over 50m. In June 1997, it sank off the east coast of Sardinia. The Italian Special Forces were called to rescue all aboard the vessel - no one was harmed. In his book, Belfort details how he insisted on sailing out in high winds against the advice of his Captain which eventually caused the ship to sink as result of violent waves smashing the foredeck hatch. Features of the Nadine included a helicopter, 8 jetskis and 4 or 5 tenders.[5]
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.[6]
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.[7]
Reportedly sober for 14 years, 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.[1] His life-story is currently being turned into a motion picture by Warner Brothers, with Leonardo Dicaprio set to star and Martin Scorsese set to direct. Filming is set to begin in mid-2011.[8] He has toured internationally as a motivational speaker, discussing how to achieve success without sacrificing integrity and ethics.[1] Belfort currently resides in Los Angeles.[9]