In the Wolf of Wall Street, Leonardo DiCaprio, plays a real life stock broker, Jordan Belfort, who swindles many people out of approximately $200 million. In the 1990’s, Belfort is targeted and eventually jailed for securities fraud. In 1998, he was convicted and spent 22 months in federal prison. At the time of his imprisonment and during his time in prison, the federal government was able to recover about $11.6 million for Belfort’s 1,513 victims; $10.4 million of the total is the result of the sale of forfeited properties and $702,000 from the following payments according to the U.S. Attorney’s office: $382,910 in 2007, $148,799 in 2008, $170,000 in 2009 and $0 in 2010 for a grand total of $11.1 million up to 2011.
Amazingly, in prison, a fellow inmate encouraged Belfort to write his memoirs so once he left prison, Belfort wrote two books about his life. The two books so far have earned him about $1.7 million dollars and he has earned another $1,050,000 from royalties and consulting with Martin Scorsese on the film based upon his books. Warner Brothers paid him $940,500 in 2007 which is why he paid $382,910 to the victim funds. Clever accounting must have shown how a $382,000 restitution payment is half of $940,500 of income. He is still owed $240,000 in royalties from the film as well as residuals now that it is in theaters.
Somehow, Belfort and his lawyers believe his obligation to make restitution ended when his probation ceased in 2009. If Belfort and his attorneys are able to weasel out of paying more then all this glorious money will go to the “Wolf of Wall Street” and not the “fleeced sheep of Wall Street”. Belfort will continue to live in a multi-million dollar mansion in Manhattan Beach, California and drive a Mercedes.
Obviously the government is more interested in arresting people and capturing headlines than providing restitution for their victims!