After watching The Wolf Of Wall Street I have to ask, what did Jordan Belfort do criminally wrong exactly?
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He scammed people into inflating the price of stock that was worthless. Or, worth much less than his company misled people into buying.
Belfort would buy cheap stock at a low price. Then hype up the stock by spreading rumors, misinformation, fake news, “hype”, and generally misleading people the stock was going to be worth a lot more than its current $0.01 price a share.
So these “financial advisors” would hype up a stock Belfort (& his goons) knew was trash saying it was the next big thing. Little guy/average Joe trust their *financial advisor* and pours money into this bad stock.
Belfort (& his goons) sell the stock they owned at an inflated price. The company or stock is not worth nearly as much because it was a pump & dump. Pump up the price and dump the stock when it gets inflated.
These guys were supposed to be looking out for their clients as advisors. And knowingly mislead clients into bad investments so they could dump the shares in the company they knew was junk.
Plus, Belfrot did a lot of random crimes like money laundering, drug related crimes, and so on.
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