Jordan Belfort's Impact On The World

Our world has been influence and affected by millions of events and people everyday. Some people influence the world in small ways, such as the inventor of a toothpick. Other people, such as the person who designed the first space shuttle to land on the moon, have had an extremely large impact on today's world. The person we will be talking about today is Jordan Belfort. Most people know him as the "Wolf of Wall Street". He is a famous stockbroker from the 1990's who made million by operating a penny stock room from his Stratton Oakmont, Inc. brokerage firm. He is also famous for his role in swindling millions of dollars from his investors. He was well known for his usage of the "pump and dump" scheme, which is a form of stock fraud that involves

Soon later found himself out of the brokerage business. Stratton Oakmont was forced to reach a settlement with the SEC , which a fine for the company and a lifetime ban from working in the securities industry. Eventually more and more legal woes kept piling up for Belfort's company. The NSAD got rid of Stratton Oakmont from its association in 1996, and they were forced to be liquidated in order to pay its many fines and settlements. In 1999, Belfort made the decision to plead guilty to money laundering and also securities fraud. He agreed to cooperate with authorities in order to get a shortened prison sentence. In 2003, was fined for $120 million and a four year year prison sentence. Belfort's restitution agreement forced him to pay 50% towards restitution to the many people whom he defrauded up until the year 2008. Following this period, Belfort began negotiating a restitution payment plan with the government of the United States. The agreement required him to pay $ 10,000 per month for the rest of his life towards the restitution. This was after a judge ruled that Belfort was not required to pay 50% of his income after his

One of Belfort's cell mates was well known comedian Tommy Chong. He encouraged Belfort the former stockbroker to write about his experiences and his life. The pair remained good friends after their release from prison, in which Belfort gave gave credit to Tommy Chong for his newfound career as a writer and motivational speaker. Once Belfort was released from prison he published his story, " The Wolf of Wall Street". He titled the book using one of his nicknames. The book told the story of his rise and fall in the world of the stock market. Belfort claimed that he is also putting the profits from his book towards the restitution. In 2014 the film " The Wolf of Wall Street" hit the box office and was a huge success. The movie was based on Belfort's book by the same title. In this movie it shares Belfort's story of power, excess, and greed that is so dark no one could even invent it. The movie also show some of Belfort's personal life. It shows the crazy relationship Belfort had with his wife as they ran a crazy household that consisted of their two children, a full-time staff of twenty people, bodyguards, and secret hidden cameras all over. In 2010 prosecutors said that Belfort had fled to Australia to avoid taxes and conceal his assets from his many victims, but later was proven false, and an official apology was later issued. Belfort also claimed that he intended to put all his royalty from his books and film be