How on God's green earth is this guy getting away with not paying his restitution? http://online.barrons.com/article/S...?mod=googlenews_barrons#articleTabs_article=1 Good Film, Extremely Bad Wolf By FARRAN SMITH NEHME | MORE ARTICLES BY AUTHOR Martin Scorsese's new movie raises an important question: Will Jordan Belfort ever be forced to repay his victims?....
A different time. And, bucket shops still thrive in one form or another. I wonder how it will compare to Boiler Room, which I liked. In the 80's and 90's we had Mafia/gangster movies in our collections. In the new millennium, it's the gonna be bucket shops and financial blow ups.
I was watching an interview from 2010 and the dude is one of the best salesman I've ever seen. Its very simple what he's doing. Most of his Motivational speeches are overseas to avoid the irs. He said Richard branson is sponsoring him. i'm sure the barrons story will bring some attention to him.He's now basically the guy who madfe a mistake and he's changed forgetting how many people he screwed
That's a good question. I guess for one, the series is pretty new and this happened in the 1990's. I do think there was a CNBC special on him at one point as the movie "Boiler Room" was loosely based on Belfort.
If you put his name into you tube you will see all his motivational videos. The guy IS smooth as hell. He's really good.
A few side items here. One of the interesting aspects of our court system is that while a court can issue a judgement of restitution, our court system cannot actually ENFORCE that restitution. Perhaps someone with a legal background can comment on that. Also, the homestead protection law in FL is very interesting. And it's why all the con men move there. After OJ Simpson was found guilty in civil court and forced to pay the Goldman family millions for the death of their daughter, OJ moved to FL and lived the good life without paying them a damn cent. Belfort did exactly the same. It's because the courts cannot go after your personal estate nor any debts attached to that estate. So as long as you buy a big enough home and borrow against it to finance your lifestyle, the courts cannot go after your assets.
but my question is how did he avoid not paying 1/2 the $1 mil he received for the movie rights? I think he has a 50% restitution deal.All this publicity he's received has to be pissing the crap out of some of his victims. Its like he has no shame in what he did and is selling himself again
They are not even scratching the surface of what that operation really was. It was much bigger than Belfort.