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Stratton Oakmont, Inc. 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.
Danny Porush. Daniel Mark Porush [1] (born February 1957) is an American businessman, former stock broker and convicted criminal who helped run a pump and dump stock fraud scheme in the 1990s at the Stratton Oakmont brokerage in collaboration with Jordan Belfort. In 1999, he was convicted of securities fraud and money laundering, for which he ...
Stuart L. Ain. Stratton Oakmont, Inc. v. Prodigy Services Co., 23 Media L. Rep. 1794 ( N.Y. Sup. Ct. 1995), [1] is a 1995 decision of the New York Supreme Court [nb 1] holding that online service providers can be liable for the speech of their users. The ruling caused controversy among early supporters of the Internet, including some lawmakers ...
His brokerage firm, Stratton Oakmont, pitched penny stocks to eager investors who bought into bogus sales pitches and purchased shares. This in turn artificially “pumped up” stock valuations.
The Wolf of Wall Street is a 2013 American biographical black comedy film co-produced and directed by Martin Scorsese and written by Terence Winter, based on Jordan Belfort 's 2007 memoir of the same name. It recounts Belfort's career as a stockbroker in New York City and how his firm, Stratton Oakmont, engaged in rampant corruption and fraud ...
Stratton Oakmont was run by Jordan Belfort, who was jailed for fraud, and whose memoir, The Wolf of Wall Street, is the basis of a 2013 film by Martin Scorsese. A pump-and-dump scam was also the subject of several episodes of the popular HBO series, The Sopranos , pulled off by Christopher Moltisanti , Matthew Bevilaqua and Sean Gismonte .
Pump and dump ( P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements (pump), in order to sell the cheaply purchased stock at a higher price (dump). Once the operators of the scheme "dump" (sell) their overvalued shares, the price falls and investors ...
The Wolf of Wall Street is a memoir by former stockbroker and trader Jordan Belfort, first published in September 2007 by Bantam Books, [1] [2] then adapted into a 2013 film of the same name (directed by Martin Scorsese and starring Leonardo DiCaprio as Belfort). Belfort's autobiographical account was continued by Catching the Wolf of Wall ...