Challenges Faced by Jordan Belfort: Obstacles and Turning Points

Life is full of challenges, and Jordan Belfort faced many. Discover key struggles and how they were overcome.

Jordan Belfort is a former stockbroker notorious for his involvement in a penny-stock scam and stock-market manipulation through his firm, Stratton Oakmont. In 1999, he pleaded guilty to fraud and related crimes. To reduce his sentence, he became an FBI informant, providing testimony against his associates. Belfort served 22 months in prison. He later authored the memoir "The Wolf of Wall Street" in 2007, detailing his experiences, which was subsequently adapted into a film directed by Martin Scorsese, starring Leonardo DiCaprio.

Sections (4)

Full Timeline Career & Achievements Challenges & Struggles Controversies & Scandals

1987: Layoff from L.F. Rothschild

In 1987, Jordan Belfort was laid off from L.F. Rothschild after the firm experienced financial difficulties due to the Black Monday stock market crash.

1989: Scrutiny from NASD

From 1989 onward, Stratton Oakmont was under near-constant scrutiny from the National Association of Securities Dealers (NASD).

June 1996: Sinking of the Yacht Nadine

In June 1996, the luxury yacht Nadine, owned by Jordan Belfort, sank off the east coast of Sardinia.

December 1996: Expulsion of Stratton Oakmont

In December 1996, the NASD expelled Stratton Oakmont, effectively putting it out of business.

1999: Guilty Plea

In 1999, Jordan Belfort pleaded guilty to fraud and related crimes involving stock-market manipulation and running a boiler room as part of a penny-stock scam.

1999: Indictment for Securities Fraud

In 1999, Jordan Belfort was indicted for securities fraud and money laundering.

July 18, 2003: Sentencing to Prison

On July 18, 2003, Jordan Belfort was sentenced to four years in prison for securities fraud and money laundering, though he served 22 months.

2005: Divorce from Nadine Caridi

In 2005, Jordan Belfort and Nadine Caridi divorced, following her claims of domestic violence fueled by his drug addiction and infidelity.

2007: Restitution Payment During Parole

In 2007, Jordan Belfort paid $382,910 in restitution during his parole period.

2008: Restitution Payment During Parole

In 2008, Jordan Belfort paid $148,799 in restitution during his parole period.

2009: End of 50% Income Restitution

In 2009, Jordan Belfort's restitution agreement, which required him to pay 50% of his income to defrauded clients, ended.

October 2013: Complaint Filed Against Belfort

In October 2013, federal prosecutors filed a complaint against Jordan Belfort regarding his restitution payments.

2013: Victim Recovery from Forfeited Properties

As of 2013, about $10 million of the $110 million recovered by Jordan Belfort's victims came from the sale of forfeited properties.

June 2014: Controversy over Film Royalties

In June 2014, spokesmen for the U.S. attorney stated that Jordan Belfort's claim that "100% of the royalties" from his books and The Wolf of Wall Street film would be turned over to victims was "not factual".