The Academy Award-nominated film “The Wolf of Wall Street” has garnered nearly as much controversy as it has critical acclaim. The film’s depiction of Stratton Oakmont founder Jordan Belfort’s outrageous lifestyle, fueled by sex, drugs and greed, makes for an entertaining – and wild – ride, but noticeably leaves out a key element in his scheme: the victims. This glamourized version of events has left many feeling as though Scorsese’s interpretation glorifies Belfort and excuses his actions, despite their devastating effect on numerous families and individuals.
Attendees at the 25th Annual ACFE Global Fraud Conference will have the opportunity to hear two other sides of Jordan Belfort’s story not depicted in the movie. FBI Special Agent Gregory Coleman, who led the investigation into money laundering that was Belfort’s eventual downfall, will share his account of events during Part One of a special two-part session. During Part Two, former U.S. Attorney Joel M. Cohen, who led the prosecution against Belfort, will share his viewpoint.
For those unfamiliar with the story, Belfort founded stock brokerage firm Stratton Oakmont, a boiler room, making millions off penny stocks in a pump and dump scheme. Convicted of money laundering and securities fraud in 2003, he received a four-year prison sentence, serving just 22 months, and was ordered to repay $110.4 million to a victim compensation fund.