Jordan Belfort

 Belfort founded Stratton Oakmont in Stratton Securities the franchise. Then Belfort bought out the original founder. Stratton Oakmont was a boiler room where penny stocks were offered and investors were deceived by the sale of stocks. While at Stratton Belfort was a luxuriant life and was addicted to methaqualone, which was sold under the label "Quaalude". Stratton Oakmont employed more than 1,000 stock brokers at a time, and was involved in the issue of stock that amounted to more than $1 billion. This included the first public offering of Steve Madden's shoe company. The law enforcement agencies targeted the company throughout its history. The films Boiler room (2000) and the biopic The Wolf of Wall Street (2013) were influenced by the fame of the company. Since 1989, Stratton Oakmont was subject to continuous scrutiny by the National Association of Securities Dealers (now called the Financial Industry Regulatory Authority). In December 1996, the NASD removed Stratton Oakmont and forced it out of its business. The reason was for a plea deal with the Federal Bureau of Investigation. The agreement involved pump-and-dump scams which resulted in losses for investors in the range of $200 million. Belfort was ordered to pay back $110.4 million to investors who bought shares. While serving his sentence Belfort was locked in a cell together with Tommy Chong. Chong encouraged Belfort to write about his experiences as an experienced stockbroker. The two were close friends following their release.[2828 Belfort acknowledges Chong for his success as an inspirational author and speaker.