Jordan Belfort: The Wolf Of Wall Street

Decent Essays

Brandon Webster
Prof Babbar
ENG 101

How is it possible for a man trading penny stocks to generate two hundred million dollars in just seven short years? This is a question that was soon answered by the federal government. Jordan Belfort is a white collar criminal whom was indicted in 1998 for securities fraud as well as money laundering all relating to stock market manipulation (Doneva). Jordan Belfort used means of manipulation to infect the stock market, committing various crimes and lied his way to the top of Wall Street. Investing money is a major means of generating extra cash that people often participate in. A stock market is a place where investors trade certificates of partial ownership in businesses for a set price. “Through these transactions, companies can raise the initial capital necessary for various aspects of operation, and those who buy the certificates become entitled to a portion of the business' assets and earnings (Kelsey).” Stock markets are completely legal when the practice and all its participants operate them correctly. However, Jordan Belfort and his colleagues chose to go another route during their …show more content…

He states, “It's like it hurts my heart…. I know it was true, but it's not who I am. (Kolhatkar).” After six years of investigating Stratton Oakmont’s practices in the stock market, authorities were finally able to convict Belfort in 2003 on charges of money laundering and securities fraud (Kolhatkar). These crimes led him to spend twenty-two months in a federal prison only after fully cooperating with authorities against his previous business partners because of his unmeasurable deceit. In addition, he was ordered to pay 110.4 million in total to a victim compensation fund, to be distributed to all those who blindly invested money with Stratton Oakmont stock

Get Access