Life And Career Of Jordan Belfort

2026 Words May 5th, 2016 9 Pages
In this film it focuses on the life and career of Jordan Belfort, a stockbroker and entrepreneur who founded the brokerage company Stratton Oakmont in 1989 and continued operations until 1996. Stratton Oakmont’s operations ceased as a result of an investigation sparked by the National Association of Securities Dealers and the United States Securities and Exchange Commission (SEC). The company had been operating pump and dump schemes with the market, which worked by artificially raising the price of certain stocks by giving false and misleading positive statements about the stock, and then dumping the stock for a large profit which in turn makes the price of the stock fall and investors in the exchange lose money in the deal. Along with the pump and dump scheme, they would also maintain stock prices by refusing to process and accept orders from investors to sell stock, so the price of certain stocks would not go down. The charges brought against the company and their top executives, Belfort and the chairman and president Danny Porush, were for securities fraud and money laundering. These individuals pleaded guilty to ten counts of securities fraud and money laundering, and in the process of the trial, also revealed that they had operated a scheme that manipulated the stock of around 34 companies over the course of a seven-year period. In return for cooperation in their plea deal, they received less prison time, and cooperated in further investigations with other brokerage…
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