Jordan Belfort Case

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The country that we live in today has a variety different bylaws and regulations that protect citizens from potential harmful actions, in aspects that effect a person physically, mentally, and financially. When it comes to determining which crimes are the most damaging to people there are a variety of crimes that people may point to that fit the description of most harmful. Some may point to crimes such as theft, assault, and a variety of other crimes that they believe to have the most repercussions. Arguably the most harmful crime, when it pertains to financial matters of a person, concerns fraudulent acts by those who desire to make a quick buck at the expense of an unsuspecting individual. The crime of securities fraud is a crime that entails …show more content…

The case being that of Jordan Belfort during the latter part of the 1980’s and early part of the 1990’s. The crime concerned Belfort and the company he had established that of Stratton Oakmont. The company had made a living of selling low quality stocks to a variety of individuals. Stratton Oakmont employees would misrepresent the stocks of companies and make fraudulent claims in order to get the people to purchase the stocks. To go along with the action of making false claims, Stratton Oakmont would buy stocks into the companies at a very low rate. Once the price of the stock had become inflated to the point where the price would be good for the selling, the company would resell their stocks at a higher price. This practice would be termed as “pump and dump”. Stratton Oakmont would go on to dup more than 1,000 clients which totaled to around 200 million dollars. Jordan Belfort would go on to be fined an excess of 100 million dollars and would serve a term of four years in prison. The company in which Belfort created had received a hefty fine of 2.5 Million Dollars and prevent Belfort from being involved with Stratton Oakmont. The case was so unique and interesting that a movie would eventually be made called the wolf of wall street in 2013 and would garner countless

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