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The Wolf of Wall Street has a lecture in Iceland on May 6 Featured

Jordan Ross Belfort is an American motivational speaker and former stockbroker. He has a lecture on May 6th at the University of Iceland. The ticket will cost from €255 - €320, according to the Icelandic company Ysland, that organizes the event.

Jordan was convicted of fraud crimes related to stock market manipulation and running a penny stock boiler room, for which he spent 22 months in prison. He recounted his life in his memoir, The Wolf of Wall Street, and the 2013 film of the same name, in which he was portrayed by Leonardo DiCaprio.

Belfort was indicted in 1998 for securities fraud and money laundering. After cooperating with the FBI, he served 22 months in federal prison for a pump and dump scheme, which resulted in investor losses of approximately $200 million. Belfort was ordered to pay back $110.4 million that he swindled from stock buyers.

According to federal prosecutors, Belfort has failed to live up to the restitution requirement of his 2003 sentencing agreement. The agreement requires him to pay 50% of his income towards restitution to the 1,513 clients he defrauded. Of the $11.6 million that has been recovered by Belfort's victims, $10.4 million of the total is the result of the sale of forfeited properties.

In October 2013, federal prosecutors filed a complaint that Belfort, who had income of $1,767,203 from the publication of his two books and the sale of the movie rights, plus an additional $24,000 from motivational speaking since 2007, paid restitution of only $243,000 over the past four years. The government is currently not holding Belfort in default of his payments in order to keep negotiations open, but it is unclear when the full amount of the mandated restitution will be repaid.

Sources: Wikipedia and DV.is

Last modified onTuesday, 11 March 2014 21:19
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