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FBN's Charlie Gasparino on The Wolf of Wall Street and how much restitution Belfort will be responsible for.
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London toy stocks -- are -- -- -- might make a lot of money from the upcoming movie the wolf of Wall Street which chronicles -- carrier white collar crime but.
Really keep any of it acting of course by anti Castro has -- it's -- He had these countries it is a movie that's put out that's -- director bite -- were say easy it Leonardo DiCaprio is is playing the lead role as -- -- forward.
Yeah having said it right the notorious stocks with a ran a company called straddled -- I actually covered.
That company when I was at the Wall Street Journal and -- -- a lot of people involved in the various schemes Steve Madden the shoe guy and was involved at one point.
He as a small role in this film now here's the interest thing.
-- wrote a book called the what willful Wall Street.
I heard sold fairly well he option that book to to I guess Scorsese to produce some due to produce and direct the movie.
The question is does he get to keep any of that money or any of the movie that the -- that the that the that any of the -- -- the movie makes.
He gets he gets -- 5% of royalties after your paid out.
-- you -- to see it's a 500000 dollars up -- he -- 5% royalties and here's basically what we know and I'll tell you I just wanted to emphasize that the audience that this.
This is stories kind of fluid because I really have to get the Justice Department walk me through some of the numbers I went into their database called -- this is what I found.
He -- restitution to the victims of straddled -- these were people that we're essentially cold cold and sold phony stocks -- fraudulent stocks.
Many of them if you weren't.
But he owes them a 110 million -- Yeah now he's been debt that was part of a plea deal that was struck in 1998.
He was he was also convicted -- of stock fraud case.
And this massive restitution along with his partner -- Porsche.
Will assess -- payments of restitution.
My only caution here I just wanna -- is the number might be bigger than a 110 million might be 200 I still have to check the dockets it's written a little funky but you get what I'm saying -- I don't think this guy is gonna is gonna be able to keep that -- under the agreement now here's a formula he gets to base he asked the payback.
50% of his salary for a you know until this -- news.
These until this thing has done this 110 million -- which means you know -- you be paying him for perpetuity probably.
I think a lot of money's gonna get from this won't be able to you won't be able to keep.
So that's what I'm holiday or after tax can you imagine who knows I mean that's -- question I don't know that's what that's.
-- a good question for his tax -- is getting really close to zero but found its interest he may be there's a way to structure of the disc titles alarming at -- -- why -- -- -- -- than this this is going to be a big a big movie when it comes out you know it's going to be exploration DiCaprio.
I can already tell you that Wall Street is buzzing about this I ran into have a guy.
Named Mark -- ran into me in that in in India at every restaurant Brooklyn he has a -- Matthew McConaughey plays Mark Hanna.
In the movies market it was a major player -- stroke journal but also serve some time in jail.
People are talking about this on Twitter and social media and on Wall Street.
-- when this firm was running the show when this firm was in existence.
It was a huge firm and they had data football fields like brokerage department where people were cold calling every day.
And I could tell you and -- in the 1990s.
That the boom of the 1990s right before the NASDAQ crash.
-- these -- the did did the markets were epitomized by firms like this boiler rooms bucket shops.
Guys are made a lot of money.
And here is from what I understand though for now is a second -- train stockbrokers in Australia.
Someone sent me the notice of what he's doing that just through his attorney has no comments thank you so -- fifth so it -- quarter terrific every fifteen minutes let's.
