How Long Was Jordan Belfort In Jail (And Why)?

Exact Answer: 22 months

Jordan Belfort spend around 22 months in jail, as he was found guilty of stock market manipulation. His relation with the scam involving penny stocks pleaded him guilty. Jordan Belfort was the writer of the memoir “The Wolf of Wall Street”.

This memoir was taken as a movie adaptation in 2013 and gained enough popularity. Jordan Belfort wrote another memoir when he was in prison. The second memoir is tagged as “Way of the Wolf”. The second memoir was a great book for self-help.

In the book, Jordan Belfort tried to criticize his story of taking money from the guiltless people where the victims received no benefits or money. Jordan Belfort spend his prison time bringing out two popular memoirs that he wrote by himself.

How Long Was Jordan Belfort In Jail

How Long Was Jordan Belfort In Jail?

Jordan BelfortHow Long Was Jordan Belfort In Jail
Minimum time22 months
Maximum time22 months

Jordan Belfort came out as a motivational speaker after his prison life. The topics of his memoir were based on ambition, aspiration, greed, and passion. Jordan Belfort has a great understanding of business at a very early age.

In his memoir the “Wolf of Wall Street”, he has written that Jordan with one of his friends sold Italian water ice desserts. Jordan being a Wall Street trader was involved in many crimes relating to stock market manipulation.

Therefore he was proven guilty and was imprisoned for around 22 months. His memoir was taken as the story plot for movies that came out a blockbuster. Jordan Belfort became a public figure after the success of both of his memoirs.

Belfort’s interest area was always to get into the dental field. He has biology during his university. His main motive was to get admission to dental school by using his saved money. Belfort changed his mind when he heard from the school dean that the dental field will not give financial success.

Belfort always tried to become financially successful, and he started from a very small business. His first venture was working as a salesperson. In which he was doing the door-to-door salesperson work. His venture got successful, then he thought of expanding his business.

He started to work with a team of several people to expand the business. He found out good capable people who can easily work without any difficulties or complaints. Belfort was highly intrigued by the concept of stockbroking.

He entered into the field of stockbroking by taking the help of his family friend. His firm, “Stratton Oakmont” was a counter brokerage house. He was able to form this financial firm when he was age 30.

Why Was Jordan Belfort Was In Jail For This Long?

Jordan’s financial firm got involved in many fraudulent activities which sent him to jail. Stratton Oakmont was involved in pump-and-dump schemes, which were illegal under many laws. The firm always forces or pressurizes the investors to invest money in highly speculative securities.

More than a thousand stockbrokers were a part of the firm. National Association of Securities Dealers took many legal actions against the illegal activities of the firm. Being the founder of the financial firm, Jordan had to get charged for its illegal activities.

Jordan Belfort was sentenced to around 4 years in jail, and he spend around 22 months in jail. After Jordan got out of jail, he has to pay almost 50 percent of his money, to the investors according to his restitution agreement.

The federal prosecutors again charged Jordan for not paying the whole money in 2013. Jordan Belfort dealt with them differently and separately for paying back the money.

Conclusion

Jordan Belfort becomes a motivational speaker after coming out of prison. He tries to inspire people about ethics and sales skills. Jordan focuses on the mistakes he did while running his firm. He considered himself guilty of becoming a drug addict.

He emphasizes the fact that he did mistakes under the influence of drugs. He regrets wasting money from his clients because of his actions. Jordan became successful in engraving an ideal position in the field of motivational speakers.

References

  1. https://books.google.com/books?hl=en&lr=&id=dUBpDQAAQBAJ&oi=fnd&pg=PA1&dq=jordan+belfort&ots=Kl7tn5vbdM&sig=AGrT9HS7XVvPOBSntnFx2o7XV34
  2. http://digilib.uinsby.ac.id/28312/
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