Analysis Of Jordan Belfort's ' Pump, Chernobyl, And The United States Of America

The fact that the insider trading charges were thrown out, but the conspiracy charges stuck is curious. It appears, yet again, the judicial process and mainstream social construct of acceptable behavior collided with what Martha, her broker, and fellow investor touted as ‘nothing wrong’. Knowing more of John Savarrese’s role as Martha’s pretrial counsel, gives two more important points about Martha’s case of white collar crime. The first is questionable ethics and the other is arrogance. Mr. Savarrese has been criticized by legal analysts for not providing ethical legal advice to Martha or making the right professional choices himself. The belief is that Savarrese knew or at least suspected, Martha and Bacanovic planned to perjure themselves. As Martha’s legal counselor it was ethically negligent of Savarrese not to advise Martha of the legal repercussions of lying to the SEC. If Martha insisted on presenting her fraudulent story, Savarrese should have immediately withdrawn as her counsel (Hoffman, 2007). More importantly than if Savarrese knew or not, in her arrogance, Martha never thought this issue of a mere $45, 637 would develop into charges nor a prison sentence! She was simply above the laws and saw no reason to tell the

Introduction: Bernie Madoff was a well-respected financier, his company Bernard L. Madoff Investment Securities, LLC was very well known and even helped launch the Nasdaq stock market. Madoffs company was well trusted and he even had celebrity cliental such a Steven Spielberg, Kevin bacon, and Kyra Sedgwick. Madoff came from a low income family however, he was able to start his company from getting a $50,000 loan from his in-laws and he using money that he had saved from side jobs such as lifeguarding and installing sprinkler systems to found his company. The successfulness of Madoff’s company came from the company’s ability to adapt to change and us modern day computer technology. As his business grew he stated employing family members to help “His younger brother, Peter, joined him in the business in 1970 and became the firm 's chief compliance officer. Later, Madoff 's sons, Andrew and Mark, also worked for the company as traders. Peter 's daughter, Shana, became a rules-compliance lawyer for the trading division of her uncle 's firm, and his son, Roger, joined the firm before his death in 2006”(Bernard Madoff Biography 2016) Unfortunately on December 11th 2008 Bernie Madoff became well known for a whole new reason. He had been accused of performing an elaborate Ponzi scheme and he had been reported to the federal authorities by his own sons. A year later he admitted to the investigators that he had lost $50 billion dollars of his investors’ money and pled guilty to 11

Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in

The following case is one of the most famous white-collar crime cases known to date. Enron Corporation was an American energy company based out of Houston, Texas. Kenneth Lay formed Enron in 1985 after a huge merger. Over time Enron’s Chief Financial Officer (CFO) and other corporate executives misled auditors and the board of directors in major financial transactions. Thus, $11 million dollars was lost by shareholders after Enron’s stocks dramatically fell in the end of 2001. Enron was then bankrupt. In this case, many Enron executives were sentenced to prison, a rare punishment for white-collar crime. As a result of this incident, the Sarbanes- Oxley Act was enacted. This act ensured that there would be

Based on the information presented in the PBS documentary and the TIME article, describe how the behaviors of corporations, such as Ford, Firestone, and the financial institutions on Wall Street, could or should be understood as crime whether or not they have been prosecuted? How do these activities differ from those involved in “typical” street crimes?

“Great ambition is the passion of a great character. Those endowed with it may perform very good or very bad acts. All depends on the principals which direct them.” This is a quote by Napoleon Bonaparte; which relates to the action of Duddy Kravitz and Jordan Belfort. Duddy Kravitz is the main character of the novel “The Apprenticeship of Duddy Kravitz” and Jordan Belfort is the main character of the movie “The Wolf of Wall Street” which was a directed by Martin Scorsese, based off of the self-written memoir by Jordan Belfort.

This quote, which I obtained from the newspaper The Guardian’s website, is from Sasha Yuvchenko, a former employee at the Chernobyl nuclear power plant. What he didn’t know at the time of the event he was describing was that he had just experienced the worst nuclear explosion in history.

Bernard Lawrence “Bernie Madoff” is an American former stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. (Bernard Madoff, 2011) This paper discusses the massive Ponzi scheme that Mr. Madoff created and those that were affected by it.

In 1999 three years after the shutdown of Stratton Oakmont Jordan Belfort and Daniel Porsch were arrested. The two men cooperated with authorities and brought down their prison sentences. Wyatt explains there testimonials as, pleading guilty to security fraud and money laundering of 10 counts (Wyatt, 1999). As reparation for their wrongdoings they had to forfeit their property and pay back millions to the clients they wronged. Examination of the Culture

Restitution and status in law firms were no longer passive, but instead shifted from year to year. The capability to generate sizable billings or to be an friend of someone who could was the key to prosperity in a large law firm. For John Gellene, this was to maintain alliance with Larry Lenderman, a notorious partner in the firm. Gellene had logged hundreds of hours for his firm on the Bucyrus-Erie case and conceding now to have a conflict of interest in the case would be a major setback for the firm. While competing for status within the firm, the ramifications to disclose the blunder were surely repugnant; ergo the enticement for Gellene’s failure to do

Jordan Belfort, a multi-million dollar scam artist who travelled the road to riches. While travelling this journey, he established many relationships that helped him reach such destination. The memoir The Wolf of Wall Street portrays the relationships and influences people had on Jordan and vice versa. The three biggest influences that Jordan encountered were Mark Hanna, Danny Porush and Nadine Belfort.

The “pump and dump” method was when the brokers pushed stocks onto their clients causing the stocks to inflate. The company would then sell all of their stocks they had invested and the price would plummet causing the client to lose all of their money and the company to rake in a load of cash. It was much easier than earning it the hard way and at the time, the public wasn’t seeing the big picture. Jordan and his partner at the firm were cheating people out of their money. Within a year of the companies opening, Belfort had made 49 million dollars (The Wolf of Wall Street).

On April 21, 2001, Lee Farkas, the former chairman of a private mortgage lending company, Taylor, Bean, & Whitaker (TBW), was convicted for his role in a more than $2.9 billion fraud scheme (Schoenberg, 2011). This action contributed to the failures of Colonial Bank, one of the 25 largest banks in the United States, and TBW, one of the largest privately held mortgage lending companies in the United States. According to court documents and evidence presented at the trial, Farkas and his co-conspirators engaged in a scheme that misappropriated more than $1.4 billion from Colonial Bank’s Mortgage Warehouse Lending division and

Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex, he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in

Money, sex, drugs, and greed-these four words are characterized and displayed profoundly throughout the movie Wolf of Wall Street. Based on a true story about the life of Jordan Belfort (Leonardo DiCaprio), the movie is narrated and gives insight to the struggle, power, and addictions that surrounded Belfort’s life. Belfort was a stockbroker who learned his way as an entry-level worker on Wall Street before creating his own company Stratton Oakmont. Belfort quickly learned that success on Wall Street was a result of doing any means necessary, regardless if it was the truth or providing a false sense of hope. His main scam involved selling cheap stocks and inflating the prices so the brokers can sell at a high price. Although this was illegal, Belfort was so involved and addicted to money and drugs that his scamming ways were irrelevant.