This is an accepted version of this page Jordan Ross Belfort (/ˈbɛlfərt/; born July 9, 1962) is an American former stockbroker, financial criminal, and businessman who pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam in 1999.

[4] Belfort spent 22 months in prison as part of an agreement under which, becoming an informant for the FBI and wearing a wire, he gave testimony against numerous partners and subordinates in his fraud scheme.

[5] He published the memoir The Wolf of Wall Street in 2007, which was adapted into Martin Scorsese's film of the same name released in 2013, in which he was played by Leonardo DiCaprio.

[7][8][9] His paternal grandfather, Jack Belfort (1904–1970), was an immigrant from Russia, while his grandmother was a Second Generation American born to Lithuanian parents in New Jersey.

[1][12][13][8][14][15] Between completing high school and starting college, Belfort and his close childhood friend Elliot Loewenstern earned $20,000 selling scooped Italian ice from styrofoam coolers to people at Jones Beach Field 2 and West-end 2.

[21] Belfort says he was laid off after that firm experienced financial difficulties related to the Black Monday stock market crash of 1987.

[24] During his years at Stratton, Belfort led a life of lavish parties and intensive use of recreational drugs, especially methaqualone—sold to him under the brand name "Quaalude"—that resulted in an addiction.

The firm was targeted by law enforcement officials throughout nearly its entire history, and its notoriety inspired the film Boiler Room (2000),[26] as well as the biopic The Wolf of Wall Street (2013).

Stratton Oakmont was under near-constant scrutiny from the National Association of Securities Dealers (now the Financial Industry Regulatory Authority) from 1989 onward.

[34] The pair remained friends after their release from prison,[34] with Belfort crediting Chong for his new career direction as a motivational speaker and writer.

[29]Federal prosecutors and SEC officials involved in the case, however, have said, "Stratton Oakmont was not a real Wall Street firm, either literally or figuratively.

Several days later, the U.S. government withdrew its motion to find Belfort in default of his payments, after his lawyers argued that he had only been responsible for paying 50% of his salary to restitution until 2009, and not since.

Belfort has claimed that he is putting the profits from his U.S. public speaking engagements and media royalties toward the restitution, in addition to the $10,000 per month.

[43] Belfort claimed on his website and elsewhere that he intended to request that "100% of the royalties" from his books and The Wolf of Wall Street film be turned over to victims.

But in June 2014, spokesmen for the U.S. attorney said that Belfort's claim was "not factual",[44] and that he had received money from the initial sale of the film rights that was not entirely put toward his restitution repayment.

The main theme of his speeches includes the importance of business ethics and learning from the mistakes he made during the 1990s—such as believing that he was justified in skirting the rules of financial regulators simply because it was a common thing to do.

Belfort and Caridi ultimately separated following her claims of domestic violence, which were fueled by his problems with drug addiction and infidelity.

[35] Belfort was the final owner of the luxury yacht Nadine, which was originally built for French fashion designer and businesswoman Coco Chanel in 1961.

In June 1996, the yacht sank off the east coast of Sardinia[59] and frogmen from the Italian Navy special forces unit COMSUBIN rescued all who were aboard the vessel.

Belfort said that he insisted on sailing out in high winds against the advice of his captain, resulting in the sinking of the vessel when waves smashed the foredeck hatch.

[47] In the 1990s, Belfort donated $100,000 to the Republican Party and $2,000 to Al D'Amato's reelection campaign in the 1992 United States Senate election in New York.

[49][68] Time magazine reported that many of the escapades depicted in the film are consistent with Belfort's memoirs and what was written about him in Forbes articles, although some of the Forbes-related content was embellished.