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FBN's Charlie Gasparino on Jordan Belfort’s earnings from the movie based on his time on Wall Street and the government’s efforts to get restituti...
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Crime does pay particularly if you're the infamous wolf of Wall Street Jordan Belfort Martin Scorsese is doing a movie about your life of crime.
-- -- -- -- -- -- -- -- -- -- Has the latest diplomatic time Charlie to that he will be on your life -- fifth.
After which they have a Wall Street would think we would -- is criminal but.
Here's what we did the last -- give money -- told -- that the he did Jordan -- easy -- is the the guy that ran Stratton Oakmont probably the most notorious penny stock operator.
Ever.
And that he owed it as part of the sentence I think the -- can down -- 2003 he spent 22 months in jail.
He owed a 110 million dollars as part of a victim restitution and I.
Surmise that the time was I didn't speak to his lawyer that he wouldn't be able to keep any of the money from from the movie that's made that this course he's making about his life which is a take off.
From the two books he wrote called the -- Wall Street which chronicled his life of Wall Street crime.
-- drug abuse and all this other stuff -- -- I was wrong further reporting.
Yesterday and I spoke with mr.
good -- for -- here's what I know he got a million dollars from the movie.
He's got it in his hands -- that he's gonna get other royalties from the movie we know that the government can't take at all according to his lawyer.
Despite the fact that he is a 110 million dollars restitution.
What we do know is that bill -- -- lawyers and prosecutors from the eastern district US attorney's office and eastern district.
Where he was prosecuted member -- -- Oakmont was a Long Island based firm that's the eastern district of New York.
In terms of prosecuting that they are now locked in discussions about just how much of this restitution.
But if any -- he gets to pay back from what we understand he has about -- paid about eleven to fifteen million and into this.
But what it would jordans -- lawyers are doing the -- listen.
If this guy drops that tomorrow.
You gonna get less money -- if you cut this deal today.
And let -- keep some money let -- the look this guy have a living and one of the proposals on the table I understand is that.
If you cut this deal then we may give back the movie money they're gonna use it as leverage if you don't cut this deal.
We have a know what you gonna get back is on the law.
You -- you can't take more than 25% of the guy's salary each each year.
That's what we are right now its really interest in key is making money off -- he earned a million dollars all -- this offer this movie and I will tell you this.
There a lot of probably -- Clinton bluntly pissed -- people that this guy is earning a dime for what he did let's put this in perspective before Bernie Madoff.
Was criminal of of the century.
There was Jordan Belfort and his partner -- Koresh who Rand Stratton Oakmont.
These were not good guys they -- off on a fairly light sentence 22 months in jail.
One of the reasons why is because they -- they need the help that the feds may have other criminals that -- in their stock scheme including.
A guy name Steve Madden who -- I guess the you know anything about who have choose I don't he was involved in this duke -- financially benefit from -- crimes you can.
-- -- -- -- tell maybe there's a son of Sam law.
But this guy is.
He's got the million dollars which you point out that the government is starting to step up its efforts regarding -- for last year.
According to his lawyer he he -- some sort of a royalty payment from from the studio.
It was a 125 million dollars -- cheese and 125000 dollars and the government -- -- and get a restraining order and took that but they can't get everything apparently this is.
This is an interest in situation -- -- if this movie does make it it's got to start in.
Fair you know my -- server Matthew McConaughey is playing one of the stockbrokers one of the guys -- -- guys -- action that was Steve -- You know -- -- it is being played by -- are -- -- and and and he is part of Porsche is being played by I think Jonah Hill.
This thing could be big.
That's when this is gonna become a huge issue and what we know right now is that he's got a million dollars in this in his hands.
It's a matter of contention and the working with the government to lower that restitution so he keeps major some of it.
High gas thank you -- --
