by Lawrence C. Melton, Esq., email@example.com, wwww.aboutbrokerfraud.com
THE HAYES LAW FIRM, 1235 North Loop West, #510, Houston, Texas, 77008, www.dhayeslaw.com, phone number, 713-862-2152 or 1-866-332-3567 toll free
Yesterday, September 25, 2007, the hard back edition of Jordan Belfort's long-awaited confessional Wall Street Memoir, The Wolf of Wall Street was released at most major book sellers. Here is the link to Amazon.com. https://www.amazon.com/Wolf-Wall-Street-Jordan-Belfort/dp/0553805460/ref=pd_bbs_sr_1/105-9524685-9738824?ie=UTF8&s=books&qid=1190822956&sr=1-1
In 2005, Jordan Belfort completed 22 months in prison for swindling investors out of $100 million as head of Stratton Oakmont brokerage house. In the late 80's and early 90's, Stratton Oakmont was the most notorious and brazen boiler room brokerage houses of that era. (Landon Thomas, Jr., In the Ashes of His Life as a Broker, Inspiration, Nytimes.com, September 11, 2007). Boiler rooms are high-pressure sales operations from which sales people make unsolicited sales calls to promote and sell securities that are usually unsuitable for the buyer or completely fraudulent. The term "boiler room" is a reference to the basement area of a building which serves as a base of operations for numerous sales agents to place calls.
Belfort was the poster-child for the culture of excess that continues to pervade Wall Street. In his mid-20s he already achieved a net worth of $100 million, which included a mansion in Southampton, N.Y., a yacht, a helicopter and a fleet of shiny racing cars. He also had a nasty cocaine addiction, an interest in strippers and prostitutes and a propensity for beating his wife. (Landon Thomas, Jr., In the Ashes of His Life as a Broker, Inspiration, Nytimes.com, September 11, 2007).
The Nytimes.com article summarizes the the plot: "In his book, "The Wolf of Wall Street," Mr. Belfort describes how he and his cronies bamboozled small investors by selling them artificially inflated stocks. Much of it was done while cruising along a Quaalude high, and when regulators became suspicious, Mr. Belfort moved his money to Switzerland." (Landon Thomas, Jr., In the Ashes of His Life as a Broker, Inspiration, Nytimes.com, September 11, 2007).
As part of his plea bargain, he has to pay 50 percent of his gross income to the defrauded investors until they receive $110 million. I'm sure his book sales and the movie contract will help.
MOTION PICTURE IN THE WORKS
According to the NY Times, Martin Scorsese has purchased the movie rights to Jordan Belfort's confessional Wall Street memoir, The Wolf of Wall Street. Terence Winter ("The Sopranos") is writing the screenplay. Leonardo DiCaprio will star as corrupt Wall Street broker, Jordan Belfort. (Landon Thomas, Jr., In the Ashes of His Life as a Broker, Inspiration, Nytimes.com, September 11, 2007).
Here is the link to the Nytimes.com article:
Editorial Reviews of the Book from Amazon.com
From Publishers Weekly
"Belfort, who founded one of the first and largest chop shop brokerage firms in 1987, was banned from the securities business for life by 1994, and later went to jail for fraud and money-laundering, delivers a memoir that reads like fiction. It covers his decade of success with straightforward accounts of how he worked with managers of obscure companies to acquire large amounts of stock with minimal public disclosure, then pumped up the price and sold it, so he and the insiders made large profits while public investors usually lost. Profits were laundered through purchase of legitimate businesses and cash deposits in Swiss banks. There is only brief mention of Belfort's life before Wall Street or events since 1997. The book's main topic is the vast amount of sex, drugs and risky physical behavior Belfort managed to survive. As might be expected in the autobiography of a veteran con man with movie rights already sold, it's hard to know how much to believe. The story is told mostly in dialogue, with allegedly contemporaneous mental asides by the author, reported verbatim. But it reports only surface events, never revealing what motivates Belfort or any of the other characters."
“A cocky bad boy of finance recalls ... [his] career as a master of his own universe.... A hell of a read.”—Kirkus Reviews
“A memoir that reads like fiction.... [concerning] the vast amount of sex, drugs and risky physical behavior Belfort managed to survive.”—Publishers Weekly
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