Belfort went on to graduate from American University with a degree in biology. However, the dean of the dental school gave a welcoming speech on the first day in which he said, "The golden age of dentistry is over.
If you're here simply because you're looking to make a lot of money, you're in the wrong place. Belfort became a door-to-door meat and seafood salesman on Long Island , New York. According to his memoirs and interviews, a family friend helped him find a job as a trainee stockbroker at L.
Belfort founded Stratton Oakmont as a franchise of Stratton Securities, then later bought out the original founder. The firm was targeted by law enforcement officials throughout nearly its entire history, and its notoriety inspired the film Boiler Room , [ 26 ] as well as the biopic The Wolf of Wall Street Belfort became an informant for the FBI and wore a wire against numerous partners and associates, later testifying against many of them.
I got greedy. Greed is not good. Ambition is good, passion is good. Passion prospers. My goal is to give more than I get, that's a sustainable form of success. Ninety-five per cent of the business was legitimate. It was all brokerage firm issues. It was all legitimate, nothing to do with liquidating stocks. Federal prosecutors and SEC officials involved in the case, however, have said, "Stratton Oakmont was not a real Wall Street firm, either literally or figuratively.
In October , federal prosecutors filed a complaint against Belfort. Several days later, the U. After that period, Belfort began negotiating a restitution payment plan with the U. Belfort has claimed that he is putting the profits from his U. Prosecutors also said that he had fled to Australia to avoid taxes and conceal his assets from his victims, [ 41 ] but later recanted their statement, which had been given to The Wall Street Journal , [ 42 ] by issuing Belfort an official apology and requesting that The Wall Street Journal print a retraction.
