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Showbiz

In reply to the discussion: Just saw, The Wolf of Wall Street [View all]

MrMickeysMom

(20,453 posts)
5. Here's more passed on to me about Jordan Belfort … interesting….
Fri Jan 10, 2014, 06:43 PM
Jan 2014

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 for Belfort's victims, $10.4 million of the total is the result of the sale of forfeited properties. The sentencing agreement mandates a total of $110 million in restitution.

In October 2013, federal prosecutors filed a complaint that Belfort, who had income of $1,767,209 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.

He spent only 22 months in jail for ruining the lives of thousands of relatively poor people. Still making tons of money…

http://jordanbelfort.com/about-jordan/

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