That honor goes to David Lamar, a con artist so bold that he once disguised himself as a U.S. It relies only on the persistence of fast talking salespeople, which Belfort and Porush assembled in abundance.īelfort is not even the first financier to use the Wolf of Wall Street sobriquet. His scam, which amounts to "you bought, we sold" is among the oldest in the investment industry. His firm, Stratton Oakmont, named to sound like a venerable white shoe firm, started as a phone bank in the show room of an abandoned car lot in Queens. Belfort fancied himself "The Wolf of Wall Street," which is the title of his memoir and of the Martin Scorsese-directed film, based on the book and starring Leonardo DiCaprio as the Wall Street con man. Jordan Belfort and his partners, principally a guy named Danny Porush, bilked investors out of more than $200 million by tricking them into buying illiquid penny stocks that his firm was selling out of secret accounts.
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