Stratton Oakmont
| Stratton Oakmont Inc. | |
|---|---|
| legal form | Public company |
| founding | 1989 |
| resolution | 1998 |
| Reason for dissolution | Forced closure by the United States Securities and Exchange Commission |
| Seat | Long Island , New York |
| management | Jordan Belfort |
| Branch | Investment |
Stratton Oakmont, Inc. was an investment company and brokerage house based in Long Island , New York , best known for the closure of the company by the FBI and the relevant US tax authorities.
Company history
After Black Monday 1987 , former stockbroker Jordan Belfort founded Stratton Oakmont in 1989 with his friend Danny Porush . The company rose to become one of the largest brokerage firms in the United States in the late 1980s and early 1990s, with soon over 1,000 employed stockbrokers. Stratton Oakmont served the IPOs of over 35 companies and managed billions in investments. At the age of 26, founder and managing director Jordan Belfort was a multimillionaire and from then on he made a name for himself in public, primarily because of his excessive lifestyle and drug abuse.
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. Belfort was convicted of securities fraud and money laundering to four years in prison, with his cooperation with the FBI and the prosecutor acted in mitigation. He was released from prison after 22 months.
literature
- The wolf of Wall Street . Kulmbach, Börsenmedien, 2008, ISBN 978-3-938350-74-4
- The Hunt for the Wolf of Wall Street: How the incredible story of Jordan Belfort continued. Kulmbach, Börsenmedien, 2011, ISBN 978-3-942888-78-3
- The Wolf of Wall Street (2013) film adaptation of the story
Individual evidence
- ↑ eliteday
- ↑ In the Ashes of His Life as a Broker, Inspiration at nytimes.com, accessed July 12, 2013
- ^ A b Jordan Belfort: Confessions of the Wolf of Wall Street at telegraph.co.uk, accessed January 26, 2013
- ↑ Jordan Belfort The Real Wolf of Wall Street at faz.net, accessed January 26, 2013