Jordan Belfort, a former stockbroker, whose life is chronicled in an upcoming Martin Scorsese film entitled The Wolf of Wall Street, made “around $1 million for the movie rights to his life story despite being ordered by a federal judge to pay $110.4 million back to the victims of his stock scams” according to FOX Business Network (FBN) Senior Correspondent Charlie Gasparino.
Excerpts from the report are below:
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On how much former stockbroker Jordan Belfort made from the upcoming film “Wolf of Wall Street” which chronicles his life story:
“Jordan Belfort, the infamous ‘Wolf of Wall Street,’ whose life of white collar crime is chronicled in an upcoming Martin Scorsese film, made around $1 million for the movie rights to his life story despite being ordered by a federal judge to pay $110.4 million back to the victims of his stock scams. Belfort’s attorney Robert Begleiter says he’s using the money as ‘leverage’ to get officials from the US Attorney’s office from the Eastern District of New York to substantially reduce the restitution ordered by Judge Robert Gleeson in 2003 as part of Belfort’s conviction for stock fraud and money laundering. Begleiter won’t say how much Belfort has made on the books, and concedes the $1 million his client received from the movie doesn’t include other payments including future royalties.”