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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.
Prodigy, an early online content hosting site, hosted a bulletin board called Money Talk on which anonymous persons could post messages about finance and investing. In October 1994, an unidentified user on Money Talk submitted a post claiming that Stratton Oakmont, a securities investment banking firm based in Long Island, New York, and its president Danny Porush, had committed criminal and ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 25 December 2024. American businessman Danny Porush Porush in 2021 Born February 1957 (1957-02) (age 68) Lawrence, New York, U.S. Occupations Businessman stockbroker Criminal status Released in 2004 after 39 months Spouse Nancy Porush (m. 1986; div. 2000) Lisa Krause (m. 2000) Children 4 Conviction(s ...
Contact your bank or credit card company if you paid a scammer to report a fraudulent charge. If you sent cash by mail, contact the U.S. Postal Inspection Service and ask them to intercept the ...
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.
Jordan Ross Belfort (/ ˈ b ɛ l f ə r t /; born July 9, 1962) is an American former stockbroker, financial criminal, and businessman who pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam in 1999. [4]
After you contact your issuer, call your loyalty program’s customer service number and ask to speak to a representative. If you can’t select the fraud department from the main menu, simply ...
Belfort tells his real-life story of creating Stratton Oakmont, a brokerage house engaged in pump and dump schemes with penny stocks. The firm was shut down by regulators in the late 1990s, and Belfort was subsequently jailed for securities fraud.