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Stratton Oakmont was a Long Island, New York, over-the-counter brokerage house founded in 1989 by Jordan Belfort and Danny Porush. It defrauded many shareholders, leading to the arrest and incarceration of several executives and the closing of the firm in 1996.
- What Was The Scam?
- What Happened Next?
- Lessons For Investors
- GeneratedCaptionsTabForHeroSec
Stratton Oakmont followed the traditional "boiler room" model of using high-pressure sales techniques to sell shares (which Stratton owned) in dubious companies to investors. In many cases, Stratton would lure its clients in by allowing them to make a profit on their initial trade. It would also promise them a large allocation of shares in an initi...
Stratton Oakmont was in trouble with the authorities almost from its founding in 1989, but it was not until 1996 that it was finally shut down. Even then it would take three more years for Belfort to be indicted for securities fraud and money laundering. Despite admitting to manipulating the stock of 34 companies, Belfort escaped with only a two-ye...
Buying investments on the basis of an unsolicited phone call is rarely a good idea. It might be an idea to pay attention to press reports too: Forbes magazine described him as early as 1991 as "a kind of twisted Robin Hood".
Learn how Belfort ran a "boiler room" firm that sold shares in dubious companies to investors, and how he was caught and punished for his crimes. Find out the lessons for investors from this notorious scam and the book and movie based on it.
Jan 7, 2023 · Dwayne Jackson worked at the infamous Wall Street firm from 1994 to 1996, before it was shut down for fraud. He recounts the wild experiences, money, and culture of the company portrayed by Leonardo DiCaprio in the film.
Sep 24, 1999 · Two former principals of Stratton Oakmont Inc., a defunct Long Island brokerage firm, have admitted that they oversaw a vast seven-year scheme to manipulate the stocks of at least 34...
Apr 3, 2014 · Born on July 9, 1962, in Queens, New York, Jordan Ross Belfort became infamous for his role in swindling millions of dollars from investors in the 1990s through his investment firm,...
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Apr 2, 2024 · Danny Porush was one of the founders of Stratton Oakmont, the infamous brokerage behind the multi-million dollar “pump and dump” stock fraud scheme. Learn about his rise and fall, his involvement in another fraud operation, and his portrayal in the film The Wolf of Wall Street.
Feb 6, 2024 · Learn how Jordan Belfort and his brokerage firm Stratton Oakmont defrauded investors and lived a lavish lifestyle of drugs and sex. Find out which scenes in the film are based on real events and which are fictionalized for dramatic effect.
