How the "Wolf of Wall Street" Is Still Screwing His Real-Life Victims

[steve2470]

http://blogs.laweekly.com/informer/2013/12/jordan_belfort_victims.php

Robert Shearin of Manhattan Beach is planning to see Martin Scorsese's The Wolf of Wall Street when it comes out next week.
But it's not because of the felonies-are-fun billboards or the total-testosterone trailers inviting moviegoers to join Leonardo DiCaprio on a rollicking ride of wild sex, pharmaceutical-pure drugs and stock-we-stole.

No, Shearin, 66, is going to see The Wolf of Wall Street because he lived through it - as vulnerable prey of the real-life Wolf, Jordan Belfort. Belfort still owes Shearin and more than 1,000 other victims millions of dollars -- even as he's making money as a motivational speaker and living high on the hog in pricey Hermosa Beach.

Belfort was founder and president of the New York investment banking firm Stratton Oakmont. From 1988-96, Stratton Oakmont targeted investors like Shearin in a classic "pump-and-dump" scheme: Its brokers would buy up large blocks of penny stocks, convince people like Shearin to invest in them to drive the price up, and then ignore their sell orders - even while dumping their own blocks of stock for huge profits, leaving their investors with worthless stock when the price inevitably plummeted back to where it started.

[jakeXT]

1. What happens if he gets struck by lightning? Then they get nothing."

His payments have slowed to a trickle in recent years, his attorney Robert Begleiter claims, because the agreement mandating he pay 50 percent of his income expired when his probation ended in 2009.

...

"There is no doubt that there is a $110 million judgment that Jordan has to pay," Begleiter said. "We're offering a deal where they would get more money than they might otherwise. What happens if he gets struck by lightning? Then they get nothing."

[steve2470]

2. Belfort is really human pond scum and he claims he's changed, ugh nt