Danny Porush

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Daniel Mark Porush (born February 1957 in Lawrence , New York ) is an American entrepreneur and stockbroker . He was best known for his stake in the Stratton Oakmont company . He and his friend and business partner Jordan Belfort founded the company in 1989, which was banned from the National Association of Securities Dealers for fraud in 1997 and closed by the United States Securities and Exchange Commission the following year .

The role of Donny Azoff in Martin Scorsese's biopic The Wolf of Wall Street about the life of Jordan Belfort is based on Porush. Jonah Hill took on the role of Donny Azoff.

Life

Danny Porush grew up in a Jewish family and enrolled at Boston University for five years without graduating. During this time he is said to have changed jobs frequently and started a company called SureRide Ambulette.

In the late 1980s, Danny Porush and friend Jordan Belfort founded Stratton Oakmont, an investment firm and brokerage firm based in Long Island , New York . Belfort took over the position of managing director in the company, Porush took over a seat on the supervisory board. Stratton Oakmont specialized in the sale of so-called penny stocks . The company gained worldwide attention for the first time for the listing of the Steve Madden (Steven Madden, Ltd.) shoe brand . Steve Madden Ltd. founder Steve Madden has been a friend of Porush since childhood. He, too, later had to serve a prison sentence for fraud.

In 1989, Stratton Oakmont received its first visit from the US tax authorities, the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission (SEC), which the company now subjected to regular audits.

Stratton Oakmont was banned from the National Association of Securities Dealers for fraud in 1997 and closed by the United States Securities and Exchange Commission the following year . The investors had suffered damage of more than 200 million US dollars by then.

Porush and Belfort pleaded guilty to ten money laundering and investment fraud charges in 1999 and testified against some colleagues. For this they received reduced prison terms. Porush was sentenced to four years in prison and was paroled in 2004 after 39 months in prison.

additional

Jordan Belfort published the book The Wolf of Wall Street in 2007 . This book was made into a film by Martin Scorsese six years later. According to Porush, many of the events described in the book and film are fictional. Scorsese did not use the name Porush in his film because he had threatened to sue Paramount Pictures if his name was used in the film.

Web links

Individual evidence

  1. ^ A b Jordan Belfort: Confessions of the Wolf of Wall Street at telegraph.co.uk, accessed January 26, 2013
  2. ^ A b Naomi Pfefferman: Jonah Hill's not-so-nice Jewish guy . In: Jewish Journal . January 6, 2014. Accessed March 1, 2014.
  3. ↑ Jennifer Goldberg: Oscars are light on Jewish nominees . Jewish News. February 2014. Retrieved April 15, 2014.
  4. ^ Johanna Berkman: Steve Madden: Crisis of the Sole . In: New York Magazine , February 26, 2001. Retrieved January 14, 2015. 
  5. ^ Edward Wyatt: Stratton Oakmont Executives Admit Stock Manipulation . In: New York Times , September 24, 1999. Retrieved October 27, 2014. 
  6. ^ Nancy A. Condon: NASD Regulation Expels Stratton Oakmont; Principals Also Barred . In: Press release . Financial Industry Regulatory Industry . December 5, 1996. Retrieved October 27, 2014.
  7. ^ Leslie Eaton: The NASD expels Stratton Oakmont, ordering repayment . In: New York Times , December 6, 1996. Retrieved October 27, 2014. 
  8. ^ Edward Wyatt: Stratton Oakmont Executives Admit Stock Manipulation . In: New York Times , September 24, 1999. Retrieved October 27, 2014. 
  9. ↑ Terry Baynes: Health fraud lawsuit echoes 'Wolf of Wall Street' , Reuters. February 21, 2014. Accessed July 21, 2014. 
  10. ↑ Asawin Suebsaeng: Dwarf-Tossing, 3-Way With Teen Employee Never Happened, Says Real "Wolf of Wall Street" Exec . In: Mother Jones , December 10, 2013. Retrieved January 17, 2014. 
  11. ^ Farran Smith Take: Good Film, Extremely Bad Wolf . In: Barron's . December 21, 2013.
personal data
SURNAME Porush, Danny
ALTERNATIVE NAMES Porush, Daniel Mark
BRIEF DESCRIPTION American entrepreneur and stockbroker
DATE OF BIRTH February 1957
PLACE OF BIRTH Lawrence , New York