How Does Jordan Ross Belfort Form Of Stock Fraud

Jordan Ross Belfort was born July 9, 1962 in Queens, New York. His parents Max and Leah Belfort were both accountants. As an infant, Jordan could never be still and would never sleep. His parents recall walking in his room to check on him and seeing him just watch his fingers move. Leah questioned if he was dumb when seeing him like this but never had him tested. Jordan described his parents as being pushy and overbearing. He claimed his mother was a Jewish mom on steroids. Always declaring he should study for medical school from the time he was in the cradle. Max was known to give lots of lectures to Jordan but most never really paid off. Jordan was in all kinds of trouble growing up and also was a late bloomer in school. He was the shortest

He soon found how good he was at it but not legally. Belfort and his partner Danny Porush started Stratton Oakmont his investment firm and they began to work. He was defrauding his investors out of thousands of dollars. Jordan and his partner ,Danny, used a scheme called “pump and dump” to make money. Pump and Dump or “P&D” is a form of stock fraud that involves raising the price of an owned stock through false and misleading statements in order to sell cheaply purchased stocks at a very high price. Jordan lived lavishly with the money he was making. He also became very fond of drugs, booze and women but never knew how much he could take before it was enough. Very fond of Quaaludes, Jordan was known to get extremely messed up with them and cause all sorts of commotion. One night, Jordan was so messed up on them he crashed his helicopter into his back yard. Of course Jordan had the money to buy another helicopter. At this point Jordan was making millions off of his “Pump and Dump” scheme. Jordan was at the point where he encouraged employees to have reckless behavior, even while at the office. Sex, drug abuse, alcohol abuse, gambling all was welcomed at Stratton Oakmont. Jordan was known to pay his women employees to do crazy things. Once he payed a women employee $5,000 to shave her head bald. Belfort even had a

Securities and Exchange Commission. Stratton Oakmont was finally being investigated for their shady investment firm. Jordan was once visited by a man with the U.S. Securities and Exchange Commission on his yacht where Jordan showed all his fancy things off and rubbed it in the man’s face that Jordan was filthy with cash. When the man left the boat, Jordan threw a freshly cooked lobster at him. Jordan was cocky though only for a short time though, as he found himself out of a brokerage business just two years later! Stratton Oakmont had finally reached a settlement with the SEC, a lifelong ban of working in the stock market securities and a hefty fine to the company. The business was ejected from The National Association of Securities and was stuck with some major fines causing to liquidate all assets to pay the money off in 1997. Two years later, 1999, Belfort pleaded guilty to securities fraud and money laundering. 2003, Jordan Belfort is sentenced four years in prison and a personal fine of $110 million, but he only spent 22 months in jail. While in jail he had found an interest in writing, and was convinced by Comedian Tommy Chong, Jordan’s cellmate, to write about his