1 00:00:02,567 --> 00:00:04,874 Getting to Jordan's bachelor party-- 2 00:00:04,961 --> 00:00:06,353 I don't remember what year it was. 3 00:00:06,354 --> 00:00:11,315 It was probably '89, '90. 4 00:00:11,402 --> 00:00:15,450 We all met at JFK, 25-30 people. 5 00:00:15,537 --> 00:00:17,191 There used to be old vending machines 6 00:00:17,278 --> 00:00:19,410 where you could get soup. 7 00:00:19,497 --> 00:00:22,152 And the head degenerate explained to us 8 00:00:22,283 --> 00:00:27,027 at 6:00 in the morning, the warmth of the soup 9 00:00:27,114 --> 00:00:30,465 helps the effect of the quaalude. 10 00:00:30,552 --> 00:00:33,859 We all start the first round of quaaludes. 11 00:00:33,946 --> 00:00:35,121 By the time we get on the plane, 12 00:00:35,122 --> 00:00:36,993 we're already feeling no pain. 13 00:00:37,124 --> 00:00:39,430 At Stratton, we live in our own world. 14 00:00:39,517 --> 00:00:40,823 We call the shots. 15 00:00:40,953 --> 00:00:44,696 Nothing affected us from the outside. 16 00:00:44,783 --> 00:00:46,611 During the flight, there's a whole bunch of people 17 00:00:46,742 --> 00:00:48,395 snorting coke on the plane. 18 00:00:48,396 --> 00:00:51,138 The flight there alone was a bacchanal. 19 00:00:51,225 --> 00:00:54,402 This is a scene from "The Wolf of Wall Street." 20 00:00:54,489 --> 00:00:57,057 They get it right, but they're a little premature 21 00:00:57,187 --> 00:01:00,060 because there were no prostitutes on the plane. 22 00:01:00,147 --> 00:01:02,584 However, once we got to Las Vegas, 23 00:01:02,714 --> 00:01:04,542 there was an abundance of them. 24 00:01:07,763 --> 00:01:09,069 There were girls running around naked. 25 00:01:09,156 --> 00:01:10,505 There were beautiful girls, 26 00:01:10,592 --> 00:01:12,072 there were drop-dead ugly girls, 27 00:01:12,159 --> 00:01:14,552 guys who were having sex on a table. 28 00:01:14,639 --> 00:01:15,597 It was insanity. 29 00:01:15,727 --> 00:01:18,033 I do remember walking through the suite 30 00:01:18,034 --> 00:01:20,080 and fucking at the same time. 31 00:01:20,167 --> 00:01:21,646 You know, like passing lanes on a highway. 32 00:01:24,127 --> 00:01:25,433 In the middle of the bachelor party, 33 00:01:25,520 --> 00:01:27,651 there was one particular guy 34 00:01:27,652 --> 00:01:30,002 and he had a great quaalude slur. 35 00:01:32,788 --> 00:01:37,661 I'm going to get under this glass table, 36 00:01:37,662 --> 00:01:41,188 put my mouth up to the table, and one of you whores 37 00:01:41,275 --> 00:01:45,235 are going to take a shit on the table. 38 00:01:45,366 --> 00:01:49,109 Thus, it will appear 39 00:01:49,196 --> 00:01:52,242 as if they're shitting in my mouth. 40 00:01:52,329 --> 00:01:54,766 Within seven seconds, there was a taker. 41 00:01:54,853 --> 00:02:00,423 It was all about drugs, hookers, and money. 42 00:02:00,424 --> 00:02:01,773 We call the rules. 43 00:02:01,860 --> 00:02:03,993 This is fucking Stratton. 44 00:02:14,351 --> 00:02:15,352 Whoo! 45 00:02:34,458 --> 00:02:35,764 Right. 46 00:02:37,853 --> 00:02:41,596 Let me just find it. 47 00:02:41,683 --> 00:02:43,032 Here it is. 48 00:02:45,687 --> 00:02:49,821 Jordan, he's sitting on a cooler and was slightly stoned. 49 00:02:49,952 --> 00:02:51,736 Just watch and observe. 50 00:02:51,867 --> 00:02:54,783 Oops. 51 00:02:54,913 --> 00:02:58,700 He was on quaaludes trying to get his sea feet back on 52 00:02:58,787 --> 00:03:00,441 and we weren't even moving. 53 00:03:00,528 --> 00:03:02,747 We were at the dock. 54 00:03:02,834 --> 00:03:05,620 He loved being stoned. 55 00:03:08,710 --> 00:03:09,667 So that's Jordan. 56 00:03:09,754 --> 00:03:10,842 And that's the Duchess. 57 00:03:10,929 --> 00:03:12,583 That's Nadine. 58 00:03:12,670 --> 00:03:14,194 Hey. 59 00:03:20,330 --> 00:03:22,854 Nadine was a beautiful girl, good personality. 60 00:03:22,985 --> 00:03:24,465 She was on commercials. 61 00:03:33,735 --> 00:03:36,868 I lived on Long Island. I took up horseback riding. 62 00:03:36,955 --> 00:03:38,305 I think I'm Martha Stewart. 63 00:03:38,392 --> 00:03:41,395 I take cooking classes I take wine classes. 64 00:03:41,482 --> 00:03:43,310 If I'm going to buy a bottle of wine that's $2,000, 65 00:03:43,397 --> 00:03:45,529 I want to know if it's a grape or a place. 66 00:03:45,660 --> 00:03:47,531 If I'm going to buy a chair, 67 00:03:47,618 --> 00:03:49,794 I want to know if it's Louis XIV or Louis XVI. 68 00:03:51,840 --> 00:03:54,234 I think Jordan was definitely living his dream, 69 00:03:54,321 --> 00:03:56,061 and I was one of his merry men. 70 00:03:56,148 --> 00:03:58,542 Some crazy, wild times. 71 00:03:58,629 --> 00:04:01,589 This is the video cruising around Newport, Rhode Island. 72 00:04:01,719 --> 00:04:03,417 We took the helicopter off the yacht. 73 00:04:03,504 --> 00:04:07,072 And these are all the mansions in Newport. 74 00:04:11,294 --> 00:04:13,470 In the early '90s, Jordan started 75 00:04:13,557 --> 00:04:16,343 living a lifestyle that I didn't even know existed 76 00:04:16,430 --> 00:04:18,649 other than to rock stars and rappers 77 00:04:18,736 --> 00:04:20,434 that made millions and millions of dollars. 78 00:04:26,178 --> 00:04:28,572 Hi! Nice to meet you! 79 00:04:29,747 --> 00:04:31,357 ♪ Yow! ♪ 80 00:04:31,358 --> 00:04:33,273 Oh, my god. 81 00:04:33,360 --> 00:04:35,362 There's no words for what a big spender he was. 82 00:04:35,492 --> 00:04:38,015 And yeah, it was fun. 83 00:04:38,016 --> 00:04:39,975 But I didn't realize it was a trap. 84 00:04:41,672 --> 00:04:42,412 ♪ Hey! ♪ 85 00:04:52,292 --> 00:04:54,946 Jordan's success and his possessions 86 00:04:55,033 --> 00:04:58,254 and everything drove everyone at Stratton 87 00:04:58,385 --> 00:05:01,039 to get motivated to make more. 88 00:05:01,126 --> 00:05:04,041 That was another thing to aspire to. 89 00:05:04,042 --> 00:05:06,392 I immediately said to myself, Howie, 90 00:05:06,393 --> 00:05:10,221 if you don't make $100,000 a month, 91 00:05:10,222 --> 00:05:11,876 you need to take a rifle, 92 00:05:11,963 --> 00:05:14,052 put it in your mouth, and pull the trigger. 93 00:05:14,183 --> 00:05:16,228 At the beginning of Stratton, 94 00:05:16,316 --> 00:05:18,883 we were really dealing in penny stocks. 95 00:05:19,014 --> 00:05:22,409 Then it was time to raise the bar. 96 00:05:22,496 --> 00:05:25,760 We started getting involved in the initial public offering, 97 00:05:25,847 --> 00:05:27,108 an IPO. 98 00:05:27,109 --> 00:05:28,415 So that part of the movie was accurate. 99 00:05:28,502 --> 00:05:31,200 An IPO is an initial public offering. 100 00:05:31,287 --> 00:05:32,984 It's the first time a stock is offered for sale 101 00:05:33,115 --> 00:05:34,682 to the general population. 102 00:05:34,769 --> 00:05:39,295 Bill Gates is about $200 million richer this morning. 103 00:05:39,426 --> 00:05:42,690 Microsoft hit a new record high on Wall Street. 104 00:05:42,820 --> 00:05:46,215 Just think if you'd bought Apple when it first started. 105 00:05:46,302 --> 00:05:48,783 Just think if you had bought Microsoft. 106 00:05:48,870 --> 00:05:52,874 Young folks who are in their 20s go, why not me? 107 00:05:54,658 --> 00:05:56,965 People just wanted to get in on IPOs 108 00:05:57,052 --> 00:06:00,098 because it was a way of just making a killing. 109 00:06:00,185 --> 00:06:01,752 You could triple your money in a day. 110 00:06:03,667 --> 00:06:06,278 Jordan Belfort became famous for IPOs 111 00:06:06,366 --> 00:06:08,672 that just seemed too good to be true, 112 00:06:08,759 --> 00:06:11,588 but it was so complicated that it was hard to make sense 113 00:06:11,675 --> 00:06:13,329 of what these deals were all about. 114 00:06:13,460 --> 00:06:17,420 And what I wanted to do was to kind of look under the hood. 115 00:06:17,507 --> 00:06:20,074 So I just filed a Freedom of Information Act request. 116 00:06:21,946 --> 00:06:25,949 The records make it clear that these Stratton Oakmont-related 117 00:06:25,950 --> 00:06:29,606 IPOs were pump and dumps. 118 00:06:29,693 --> 00:06:34,176 The pump and dump was basically the company 119 00:06:34,263 --> 00:06:37,440 buys inventory of a stock... 120 00:06:37,527 --> 00:06:41,488 At a very low price... 121 00:06:41,575 --> 00:06:46,970 manipulates it to a much higher price. 122 00:06:46,971 --> 00:06:51,323 Now we pick up a phone and sell a security to investors. 123 00:06:51,411 --> 00:06:54,543 That drove the stock up even higher. 124 00:06:54,544 --> 00:06:56,938 After manipulating the stock... 125 00:06:57,025 --> 00:07:00,550 Dump it on the market. Sell, sell, sell. 126 00:07:00,681 --> 00:07:03,640 Now we all dump the stock. 127 00:07:03,727 --> 00:07:06,643 The firms profited. 128 00:07:06,730 --> 00:07:09,690 The stock crashed. 129 00:07:09,777 --> 00:07:13,955 And eventually, most of the clients... 130 00:07:14,085 --> 00:07:15,565 lost everything. 131 00:07:15,696 --> 00:07:18,438 That was your classic pump and dump. 132 00:07:20,570 --> 00:07:23,660 So you've got a whole bunch of young kids 133 00:07:23,747 --> 00:07:25,749 who knew nothing about the business 134 00:07:25,836 --> 00:07:30,362 on the phone all day trying to push a particular IPO. 135 00:07:44,028 --> 00:07:45,900 There was a rumor we were taking 136 00:07:45,987 --> 00:07:48,859 grandmother's Social Security money. 137 00:07:48,946 --> 00:07:52,341 We want people who are rich. That's the guy you want. 138 00:07:52,428 --> 00:07:53,864 The narrative at the time 139 00:07:53,951 --> 00:07:57,694 was that we only contact high net worth individuals. 140 00:07:57,825 --> 00:08:01,481 You had to at least make $100,000 a year, 141 00:08:01,611 --> 00:08:04,353 be worth at least a half a million to a million, 142 00:08:04,440 --> 00:08:06,181 and be in the stock market. 143 00:08:06,311 --> 00:08:08,705 The "business model" 144 00:08:08,792 --> 00:08:13,754 wasn't turning a virgin into a hooker. 145 00:08:13,841 --> 00:08:17,932 It was turning someone that already fucks 146 00:08:18,019 --> 00:08:20,282 into a real hooker. 147 00:08:26,157 --> 00:08:28,028 I got a call from Stratton Oakmont. 148 00:08:28,029 --> 00:08:30,510 He had an IPO called Computer Marketplace. 149 00:08:30,597 --> 00:08:33,208 And he said, oh, we got this big IPO coming out 150 00:08:33,295 --> 00:08:35,863 and all our customers are millionaires. 151 00:08:35,950 --> 00:08:38,648 And you know, you stick with us, you'll be fine. 152 00:08:38,735 --> 00:08:40,520 And so I agreed to buy that. 153 00:08:40,607 --> 00:08:44,480 Probably going to say it was $30,000 range, I think. 154 00:08:44,567 --> 00:08:46,787 And how did he make Computer Marketplace sound? 155 00:08:46,874 --> 00:08:48,049 Oh, it was an amazing company. 156 00:08:48,136 --> 00:08:49,311 You watch. 157 00:08:49,441 --> 00:08:50,965 It's going to be worth ten times what it is, 158 00:08:51,052 --> 00:08:52,444 you know, today. 159 00:08:52,532 --> 00:08:53,489 And they had all the right things to say. 160 00:08:53,576 --> 00:08:55,099 They were very professional, you know? 161 00:08:57,624 --> 00:09:00,409 They often paint the picture that they're going after 162 00:09:00,496 --> 00:09:02,367 you know, wealthy business owners. 163 00:09:02,454 --> 00:09:04,021 Does that describe yourself? 164 00:09:04,108 --> 00:09:06,328 No, I was just--I owned and operated a restaurant. 165 00:09:06,415 --> 00:09:08,025 I worked hard and did OK, 166 00:09:08,112 --> 00:09:11,767 but I wasn't in the league-- in that league, you know? 167 00:09:11,768 --> 00:09:13,988 They knew all the right buttons to push. 168 00:09:14,075 --> 00:09:16,033 Ya know, before you knew it, you're in. 169 00:09:19,950 --> 00:09:22,952 Stratton Oakmont was about kill, kill, Make the money. 170 00:09:22,953 --> 00:09:26,130 There are no concerns for investors at all. 171 00:09:26,261 --> 00:09:28,915 Did you realize, like, hey, this is absolute fraud? 172 00:09:28,916 --> 00:09:30,787 Like, this is a pump and dump scheme? 173 00:09:30,874 --> 00:09:32,572 No. No, 'cause first of all, I don't-- 174 00:09:32,659 --> 00:09:33,964 again, I'm 23 years old. 175 00:09:34,051 --> 00:09:36,837 I don't understand anything about the stock market. 176 00:09:36,924 --> 00:09:38,839 I mean, I certainly thought it was wild 177 00:09:38,926 --> 00:09:41,058 how they could can make so much money. 178 00:09:41,145 --> 00:09:45,062 I was much more focused on my relationship with him. 179 00:09:45,149 --> 00:09:48,457 Was there a moment when you realized, 180 00:09:48,544 --> 00:09:50,328 we might be doing something wrong here? 181 00:09:53,854 --> 00:09:56,117 You don't think like that. 182 00:09:56,247 --> 00:10:00,295 Well, you know, I'm doing something wrong here. 183 00:10:00,382 --> 00:10:05,605 I wanted to believe the lie, be honest. 184 00:10:05,692 --> 00:10:08,825 I was blinded by the lifestyle. 185 00:10:08,912 --> 00:10:11,611 And, uh... 186 00:10:11,698 --> 00:10:14,701 God took care of me in his own way. 187 00:10:21,098 --> 00:10:22,709 You got married-- you said 25? 26? 188 00:10:22,796 --> 00:10:24,711 We got married, I think I was 23. 189 00:10:24,841 --> 00:10:27,495 So I met him at 22. - Oh, it was fast. 190 00:10:27,496 --> 00:10:28,758 Six months later, we were engaged. 191 00:10:28,889 --> 00:10:32,109 Six months later, we were married. 192 00:10:32,196 --> 00:10:35,243 The night before our wedding, we got into a rip-roaring fight 193 00:10:35,330 --> 00:10:38,420 because I'm pregnant, because I got pregnant before my wedding, 194 00:10:38,507 --> 00:10:40,727 and he's wasted the whole time. 195 00:10:40,814 --> 00:10:44,556 And I'm furious. 196 00:10:44,644 --> 00:10:47,124 And I'm like, are you fucking kidding me? 197 00:10:47,211 --> 00:10:48,648 I'm giving you everything you want, 198 00:10:48,778 --> 00:10:51,302 and this is how you're behaving? 199 00:10:51,389 --> 00:10:53,000 And then I had 250 people 200 00:10:53,087 --> 00:10:56,003 coming to the Malliouhana Hotel in Anguilla. 201 00:10:56,090 --> 00:10:58,005 So I was like, OK. 202 00:11:03,750 --> 00:11:07,667 Jordan flew me from California to Anguilla, 203 00:11:07,754 --> 00:11:09,799 puts me up in a gorgeous room. 204 00:11:09,930 --> 00:11:11,975 For a guy who came from a middle-class neighborhood, 205 00:11:12,062 --> 00:11:15,065 it was pretty incredible, honestly. 206 00:11:15,152 --> 00:11:16,980 Everybody was there. 207 00:11:17,111 --> 00:11:21,898 Rob LoRusso, Howie Gelfand, all the top brokers. 208 00:11:21,985 --> 00:11:24,161 I mean, what can I say? It was a fairy tale. 209 00:11:24,248 --> 00:11:26,903 This is a scene from "The Wolf of Wall Street." 210 00:11:27,034 --> 00:11:29,340 - Kiss the bride. - This is their wedding. 211 00:11:29,427 --> 00:11:32,778 This is the lovely couple dancing at their wedding, 212 00:11:32,779 --> 00:11:34,389 which I really don't recall 213 00:11:34,519 --> 00:11:39,176 because I think everyone had been too fucked up already. 214 00:11:39,307 --> 00:11:41,483 You know, I do a video about this on TikTok. 215 00:11:41,788 --> 00:11:43,180 Put on my dress. 216 00:11:43,267 --> 00:11:46,008 I showed up with a smile on my face. 217 00:11:46,009 --> 00:11:49,230 Yet inside, I was deeply, deeply sad. 218 00:11:49,317 --> 00:11:51,623 You might even see that in my eyes in the picture. 219 00:11:53,843 --> 00:11:56,716 And I put myself into therapy. 220 00:11:56,803 --> 00:11:59,195 I was smart enough to know that. 221 00:11:59,196 --> 00:12:03,244 And I think she helped me really stay sane. 222 00:12:03,331 --> 00:12:05,333 So you come back, now you're married to this guy. 223 00:12:05,420 --> 00:12:06,987 Like, you knew he worked on Wall Street. 224 00:12:07,074 --> 00:12:09,032 Yeah. 225 00:12:09,163 --> 00:12:10,904 But I think I only went to the office, 226 00:12:10,991 --> 00:12:14,603 honestly, like, one or two other times. 227 00:12:14,734 --> 00:12:17,867 I'm sure I was kept away from the office on purpose. 228 00:12:17,954 --> 00:12:20,217 He's just controlling everything. 229 00:12:22,654 --> 00:12:26,180 Jordan realized that in order to manipulate a stock, 230 00:12:26,267 --> 00:12:31,533 you couldn't manipulate it just by your one firm. 231 00:12:31,620 --> 00:12:34,449 You had to be--the word that I use is "cahoots." 232 00:12:34,536 --> 00:12:39,846 You had to be in bed with other firms. 233 00:12:39,976 --> 00:12:44,633 And then in one of the big seminal events of my life, 234 00:12:44,764 --> 00:12:48,724 I was called into Jordan's office along with 235 00:12:48,811 --> 00:12:51,205 one of the junior partners. 236 00:12:51,335 --> 00:12:53,337 And they asked us 237 00:12:53,424 --> 00:12:57,298 if we would like to own our own brokerage firm 238 00:12:57,385 --> 00:12:59,474 in South Florida. 239 00:12:59,604 --> 00:13:03,347 We could work closely, or in cahoots, 240 00:13:03,434 --> 00:13:05,827 with Stratton and do deals together 241 00:13:05,828 --> 00:13:07,612 to make a lot of money. 242 00:13:07,743 --> 00:13:10,746 I was a single guy, so for me, 243 00:13:10,833 --> 00:13:14,271 it wasn't a difficult decision to move down there. 244 00:13:14,402 --> 00:13:16,273 I didn't have a family to consider, 245 00:13:16,404 --> 00:13:19,581 so I said, yeah, it sounds good to me. 246 00:13:21,801 --> 00:13:22,802 Whoo! 247 00:13:25,543 --> 00:13:27,850 And we opened our own brokerage firm 248 00:13:27,937 --> 00:13:30,287 called Biltmore in South Florida. 249 00:13:33,508 --> 00:13:35,075 We were doing IPOs 250 00:13:35,162 --> 00:13:40,122 and we were training our brokers the same way. 251 00:13:40,123 --> 00:13:42,299 So as Stratton Oakmont's ambitions grew, 252 00:13:42,430 --> 00:13:43,866 they launch other firms. 253 00:13:43,997 --> 00:13:45,476 Biltmore, 254 00:13:45,563 --> 00:13:47,261 Monroe Parker. 255 00:13:47,348 --> 00:13:50,264 And they appear to be kind of independent, 256 00:13:50,351 --> 00:13:52,440 but they're all connected to Stratton Oakmont. 257 00:13:55,704 --> 00:13:58,402 So what we would do is we would fly into New York 258 00:13:58,533 --> 00:14:00,317 on private jets. 259 00:14:00,448 --> 00:14:03,451 We'd meet Danny and Jordan for dinner. 260 00:14:03,538 --> 00:14:06,192 We would discuss an upcoming IPO. 261 00:14:06,193 --> 00:14:10,197 We would lay out a strategy of how to set the prices. 262 00:14:10,284 --> 00:14:12,764 We would have two, three, four different companies. 263 00:14:12,852 --> 00:14:14,636 That was our cartel. 264 00:14:14,723 --> 00:14:17,857 You're not allowed to conspire to set a price, 265 00:14:17,944 --> 00:14:19,640 but that's what we were doing. 266 00:14:19,641 --> 00:14:21,208 That is all illegal. 267 00:14:24,211 --> 00:14:26,866 On an IPO day, the boardroom was insanity. 268 00:14:26,953 --> 00:14:28,563 Things were being thrown around. 269 00:14:28,650 --> 00:14:30,086 People were screaming. 270 00:14:30,173 --> 00:14:31,435 I made almost $800,000 in commissions 271 00:14:31,522 --> 00:14:33,002 in, like, 15 minutes. 272 00:14:33,089 --> 00:14:37,441 My income was $130,000 to $140,000 a month. 273 00:14:37,528 --> 00:14:38,789 All of a sudden, 274 00:14:38,790 --> 00:14:43,099 we were loaded and powerful and famous. 275 00:14:43,186 --> 00:14:47,321 IPOs were huge moneymakers, not to be minimized. 276 00:14:49,279 --> 00:14:50,801 It was like a dream. 277 00:14:50,802 --> 00:14:52,325 It enabled me to help my father, 278 00:14:52,326 --> 00:14:54,023 enabled me to help my sister, 279 00:14:54,154 --> 00:14:55,590 enabled me to break up my girlfriend, 280 00:14:55,720 --> 00:14:57,374 give her $5,000 a month out of guilt. 281 00:14:59,115 --> 00:15:00,682 I guess the nice part about it, 282 00:15:00,769 --> 00:15:02,596 you know, when my parents were alive, 283 00:15:02,597 --> 00:15:04,251 I spoiled them to death. 284 00:15:04,381 --> 00:15:07,254 Not literally. 285 00:15:07,341 --> 00:15:09,734 My father was my best friend. 286 00:15:09,821 --> 00:15:14,043 I threw him a surprise 60th at Caesars in Atlantic City. 287 00:15:14,130 --> 00:15:16,828 I was able to retire my father. 288 00:15:16,916 --> 00:15:19,048 And I bought him a house next to his best friend. 289 00:15:19,135 --> 00:15:21,398 I gave my father 5,000 a month. 290 00:15:21,485 --> 00:15:23,400 A lot of people got $5,000 a month from me. 291 00:15:24,619 --> 00:15:26,621 I was a hot bachelor. 292 00:15:26,751 --> 00:15:29,928 I used to get cold calls from mothers of Jewish girls 293 00:15:29,929 --> 00:15:31,974 to set to date their daughters. 294 00:15:32,105 --> 00:15:34,846 Everyone's life around me 295 00:15:34,977 --> 00:15:39,329 had kind of depended on me pulling in this kind of money. 296 00:15:39,416 --> 00:15:42,811 I became the chairman of the Miami City Ballet. 297 00:15:42,942 --> 00:15:46,293 And I was on the board of the Museum of Contemporary Art. 298 00:15:46,380 --> 00:15:48,469 And it was a very exciting life. 299 00:15:58,044 --> 00:16:00,307 Since we all knew that what we were doing 300 00:16:00,394 --> 00:16:04,398 was potentially illegal, it was a closed society. 301 00:16:04,485 --> 00:16:08,445 We socialized together. We had a lot of fun together. 302 00:16:08,576 --> 00:16:10,578 We went on vacations together. 303 00:16:13,059 --> 00:16:16,976 We spent a lot of time as friends, families. 304 00:16:17,063 --> 00:16:18,412 He would take people on trips. 305 00:16:21,241 --> 00:16:22,938 And a lot of our friends were friends. 306 00:16:23,025 --> 00:16:24,026 You know, that was the fun part. 307 00:16:24,113 --> 00:16:25,288 Like, we would all hang out together 308 00:16:25,375 --> 00:16:27,247 with our husbands and our kids. 309 00:16:29,597 --> 00:16:30,902 I had a child. 310 00:16:31,033 --> 00:16:33,340 My daughter was born in 1994. 311 00:16:33,427 --> 00:16:35,210 Jordan and Nadine had Chandler. 312 00:16:35,211 --> 00:16:36,952 I think she was born in '93. 313 00:16:39,520 --> 00:16:41,783 So the kids played together. The kids grew up together. 314 00:16:43,480 --> 00:16:46,048 You know, great memories were made on that boat. 315 00:16:46,135 --> 00:16:48,877 Happy New Year's! 316 00:16:48,964 --> 00:16:50,922 There were parties with spouses. 317 00:16:51,010 --> 00:16:52,315 Then there was the other partying 318 00:16:52,402 --> 00:16:53,925 where the wives weren't present. 319 00:16:57,712 --> 00:17:00,628 One time, Jordan said, we're going on a road trip. 320 00:17:00,715 --> 00:17:03,239 We're going to the yacht. It was nine guys. 321 00:17:08,157 --> 00:17:11,378 One of Jordan's mottos were, just remember, 322 00:17:11,465 --> 00:17:13,075 hookers are not cheating. 323 00:17:15,904 --> 00:17:18,211 I was told that they were going to bring in hookers. 324 00:17:18,298 --> 00:17:21,257 Jordan flew in 13 hookers on this yacht, 325 00:17:21,388 --> 00:17:23,738 and there were nine guys. 326 00:17:23,825 --> 00:17:25,957 It was chaos. 327 00:17:26,045 --> 00:17:27,481 The drugs were going around. 328 00:17:30,875 --> 00:17:33,313 There was one scene that I will never forget. 329 00:17:35,837 --> 00:17:38,753 The captain said to me, Ross, you gotta see this. 330 00:17:38,883 --> 00:17:41,190 I look into Jordan's bedroom 331 00:17:41,321 --> 00:17:45,238 and I see these two beautiful women 332 00:17:45,325 --> 00:17:48,197 with Jordan in between them naked. 333 00:17:48,284 --> 00:17:50,112 And you could see the drool 334 00:17:50,199 --> 00:17:52,071 and you could see the look on his face. 335 00:17:52,158 --> 00:17:54,334 And these girls are trying to get him aroused. 336 00:17:56,118 --> 00:17:57,772 And we're dying of laughter. 337 00:17:57,859 --> 00:17:59,904 So it got to the point where we went down to Jordan's room 338 00:17:59,991 --> 00:18:04,213 and Jordan's-- 339 00:18:04,300 --> 00:18:07,608 Tell them I have a big cock. 340 00:18:07,695 --> 00:18:09,914 So I turn to these beautiful naked girls. 341 00:18:10,001 --> 00:18:12,352 By the way, girls, Jordan really has a big cock. 342 00:18:14,223 --> 00:18:18,532 A lot of these guys partied with these hookers a lot. 343 00:18:18,619 --> 00:18:20,534 Wherever there were just the guys, there were girls. 344 00:18:20,664 --> 00:18:23,406 They went out to dinner, there were girls. 345 00:18:23,493 --> 00:18:28,803 It was a very male, testosterone-y environment. 346 00:18:28,890 --> 00:18:32,067 It was a frat house. 347 00:18:32,154 --> 00:18:34,548 The culture at Stratton was very much 348 00:18:34,635 --> 00:18:37,551 designed in the pursuit of the pleasures of men. 349 00:18:37,638 --> 00:18:42,817 Part of that was a healthy little dose of sexism. 350 00:18:42,947 --> 00:18:45,124 So Stratton Oakmont is making tons of money 351 00:18:45,211 --> 00:18:47,038 and living the lives of millionaires. 352 00:18:47,126 --> 00:18:49,170 But when investors want to sell the stock, 353 00:18:49,171 --> 00:18:51,478 Stratton Oakmont often refuses, 354 00:18:51,608 --> 00:18:53,654 knowing that this stock is going to crash. 355 00:18:55,395 --> 00:18:58,180 The broker hears from the client, I want to sell. 356 00:18:58,311 --> 00:19:00,704 I want to sell 10,000 shares of ABC. 357 00:19:00,835 --> 00:19:02,053 OK. 358 00:19:02,141 --> 00:19:04,795 He writes out a sell ticket. 359 00:19:04,926 --> 00:19:07,407 We just ripped up the fucking piece of paper. 360 00:19:07,494 --> 00:19:12,455 I mean, it doesn't get much more illegal than that. 361 00:19:28,558 --> 00:19:30,081 Do you know how much you bought? 362 00:19:30,212 --> 00:19:34,259 It was like $72,000, which was a lot of money back then. 363 00:19:34,260 --> 00:19:35,652 I'm just a blue-collar worker. 364 00:19:35,739 --> 00:19:38,220 You know, that was all the money I had at the time. 365 00:19:38,307 --> 00:19:40,440 Couldn't get a hold of anybody to sell everything. 366 00:19:40,570 --> 00:19:43,312 And I says, oh, my god. I says, this is bad. 367 00:19:43,443 --> 00:19:45,314 Eh, we're not getting the money back. 368 00:19:45,401 --> 00:19:48,317 That's when I decided I'd get the lawyer. 369 00:19:48,404 --> 00:19:49,448 I went to the lawyer, 370 00:19:49,449 --> 00:19:51,102 explained to him what happened, 371 00:19:51,233 --> 00:19:53,104 and I went to arbitration. 372 00:19:53,235 --> 00:19:55,497 An arbitration is basically, 373 00:19:55,498 --> 00:19:58,980 you're getting sued for doing illegal activities 374 00:19:59,067 --> 00:20:01,069 that cost our client a lot of money. 375 00:20:01,156 --> 00:20:03,898 I got so many arbitrations 376 00:20:04,028 --> 00:20:06,814 that I can't tell you how many I got. 377 00:20:09,295 --> 00:20:11,731 At arbitration, they said, oh, he's a multi-millionaire, 378 00:20:11,732 --> 00:20:13,908 you know, and he makes all this money a year and stuff. 379 00:20:13,995 --> 00:20:15,779 And it wasn't accurate 380 00:20:15,866 --> 00:20:20,088 because Stratton Oakmont had altered the original document 381 00:20:20,175 --> 00:20:21,481 when I opened the account. 382 00:20:21,611 --> 00:20:24,527 They had inflated my net worth. 383 00:20:24,614 --> 00:20:26,790 They had inflated my annual salary. 384 00:20:26,877 --> 00:20:31,491 He sold Dr. Pepper and he bought this SMT Healthcare? 385 00:20:31,578 --> 00:20:33,362 I said, I didn't authorize that. 386 00:20:33,493 --> 00:20:37,148 You know, they had forged paperwork and stuff. 387 00:20:39,063 --> 00:20:40,543 We had three days of arbitration. 388 00:20:40,630 --> 00:20:43,024 We won the case. 389 00:20:43,111 --> 00:20:45,112 When the arbitration check came, 390 00:20:45,113 --> 00:20:46,593 I went to the lawyer, naturally, 391 00:20:46,680 --> 00:20:49,160 tried to pay his fees, his expenses. 392 00:20:49,248 --> 00:20:50,814 I wound up getting 393 00:20:50,901 --> 00:20:55,340 if I remember-- you know, it wasn't very much. 394 00:20:55,341 --> 00:20:56,254 And you know, I had three children 395 00:20:56,255 --> 00:20:58,605 and college expenses, et cetera. 396 00:20:58,692 --> 00:21:01,042 We'd use it for my family, for the future. 397 00:21:01,129 --> 00:21:02,913 It's gone, you know? 398 00:21:11,444 --> 00:21:13,184 Stratton Oakmont loses. 399 00:21:13,315 --> 00:21:15,274 But at the end of the day, 400 00:21:15,361 --> 00:21:18,754 the result of an arbitration is you pay a fine. 401 00:21:18,755 --> 00:21:20,801 Ultimately, this just becomes 402 00:21:20,931 --> 00:21:25,066 the cost of doing business for Stratton Oakmont. 403 00:21:25,153 --> 00:21:28,025 And Jordan's attitude was the cost, really, 404 00:21:28,112 --> 00:21:31,768 it's just part of the business, almost like a store has, 405 00:21:31,899 --> 00:21:35,511 you know, 3% theft included in their revenues. 406 00:21:35,598 --> 00:21:38,079 I don't think he was even concerned 407 00:21:38,166 --> 00:21:42,083 with the audits and the compliance part of it. 408 00:21:42,170 --> 00:21:43,823 Because I remember he said, 409 00:21:43,824 --> 00:21:45,521 the longer I keep it open, the more I'm going to make, 410 00:21:45,608 --> 00:21:47,958 so I'll just keep paying my way through this. 411 00:21:48,045 --> 00:21:49,438 He would get a slap on the hand. 412 00:21:49,569 --> 00:21:51,744 I think one of the fines was $1 million. 413 00:21:51,745 --> 00:21:53,312 $1 million was a lot of money, 414 00:21:53,399 --> 00:21:55,749 but not when you're taking in tens of millions of dollars. 415 00:21:55,879 --> 00:21:59,448 I went to Las Vegas to do an arbitration and it was great. 416 00:21:59,579 --> 00:22:01,102 I don't remember whether I won or lost, 417 00:22:01,189 --> 00:22:03,190 but I spent two weeks in Vegas. 418 00:22:03,191 --> 00:22:05,019 I flew out my little niece and nephew. 419 00:22:05,149 --> 00:22:06,281 They were younger at the time. 420 00:22:06,368 --> 00:22:08,152 And we had the time of our lives. 421 00:22:08,239 --> 00:22:13,332 And that was the ethos that existed within our ecosystem. 422 00:22:13,419 --> 00:22:15,029 If you got the power, you can do 423 00:22:15,116 --> 00:22:18,424 whatever the hell you want to do and the laws don't apply. 424 00:22:21,514 --> 00:22:24,125 Didn't take long for arbitrations 425 00:22:24,212 --> 00:22:26,127 to start coming in. 426 00:22:26,214 --> 00:22:29,260 Typical firm would get maybe a handful a year. 427 00:22:29,391 --> 00:22:32,351 We were getting much more than a handful. 428 00:22:32,438 --> 00:22:35,005 That alerted the authorities 429 00:22:35,092 --> 00:22:38,574 it's time to really look into what these guys are doing. 430 00:22:42,883 --> 00:22:44,840 I happened to pick up the newspaper 431 00:22:44,841 --> 00:22:46,930 and I notice that there's an article 432 00:22:47,017 --> 00:22:52,545 about the SEC investigating Stratton Oakmont. 433 00:22:52,632 --> 00:22:55,591 Jordan called me right after the article appeared 434 00:22:55,722 --> 00:22:57,679 and said, I need to talk to you. 435 00:22:57,680 --> 00:23:00,204 I said, where the fuck have you been? 436 00:23:00,291 --> 00:23:03,511 Now you're under full investigation. 437 00:23:03,512 --> 00:23:07,081 Like in Scorsese's movie, we set them up in a room. 438 00:23:07,211 --> 00:23:08,778 I had it bugged 439 00:23:08,865 --> 00:23:10,911 and the air conditioning turned up so high 440 00:23:10,998 --> 00:23:12,739 that it felt like Antarctica in there. 441 00:23:12,826 --> 00:23:16,351 The scene in the movie with the temperature, um, 442 00:23:16,438 --> 00:23:19,441 I didn't witness that, but I believe that. 443 00:23:19,528 --> 00:23:23,924 Jordan continuously felt invincible. 444 00:23:24,054 --> 00:23:25,316 I had to run reports 445 00:23:25,404 --> 00:23:27,362 and I knew all these investigations were going on. 446 00:23:27,449 --> 00:23:29,146 And it was almost like 447 00:23:29,277 --> 00:23:31,497 a "Catch Me If You Can" environment. 448 00:23:31,584 --> 00:23:35,022 We were, like, trying to stay ahead all the time. 449 00:23:36,632 --> 00:23:39,374 The SEC was kind of really, you know, 450 00:23:39,461 --> 00:23:42,159 ironical about the SEC 'cause they were not 451 00:23:42,290 --> 00:23:44,335 the sharpest tools in the shed. 452 00:23:44,423 --> 00:23:47,295 I never had much respect for them at all. 453 00:23:48,775 --> 00:23:52,387 The attitude was screw the SEC. 454 00:23:52,474 --> 00:23:55,259 Hire a lawyer and let them take care of it, whatever. 455 00:23:55,346 --> 00:23:57,871 Quite frankly, without being pejorative, 456 00:23:57,958 --> 00:24:03,006 it was totally slow-moving and terribly ineffective. 457 00:24:03,093 --> 00:24:04,747 Hi. 458 00:24:04,878 --> 00:24:09,709 Whenever news came across, it was quickly dispelled 459 00:24:09,796 --> 00:24:13,625 as bullshit, it's bullshit, it's bullshit. 460 00:24:13,626 --> 00:24:16,150 We were convinced that we were untouchable. 461 00:24:29,206 --> 00:24:34,081 Few weeks ago, I went with my son to polo 462 00:24:34,168 --> 00:24:37,563 and there was a sweater with a teddy bear. 463 00:24:37,650 --> 00:24:42,350 And it was 250 and I fucking didn't buy it. 464 00:24:42,437 --> 00:24:47,267 Back then, I never looked at a price tag. 465 00:24:47,268 --> 00:24:49,575 I just bought it. 466 00:24:49,705 --> 00:24:52,360 At the time, side note, 467 00:24:52,447 --> 00:24:55,929 I was dating the shot girl from Scores, 468 00:24:56,016 --> 00:24:58,671 a very, very high-end strip bar. 469 00:24:58,758 --> 00:25:01,804 Everyone I've gone out with since the beginning of time 470 00:25:01,891 --> 00:25:05,112 has just been one smoke show after another. 471 00:25:05,199 --> 00:25:08,811 So this is called the Miracle Mile. 472 00:25:08,942 --> 00:25:13,773 And why? 473 00:25:13,860 --> 00:25:17,472 Because if you can afford to shop here, 474 00:25:17,559 --> 00:25:19,039 it's a fucking miracle. 475 00:25:22,172 --> 00:25:25,698 It is every high-end brand. 476 00:25:25,785 --> 00:25:29,179 Ralph Lauren, Christian Dior, Gucci. 477 00:25:29,310 --> 00:25:30,833 There's Tiffany. 478 00:25:30,920 --> 00:25:34,097 Back then, I bought 500 bars of Tiffany soap 479 00:25:34,228 --> 00:25:35,490 because I liked it. 480 00:25:35,621 --> 00:25:37,883 Rolex, that was my go-to store 481 00:25:37,884 --> 00:25:42,453 because I had a addiction to watches. 482 00:25:42,584 --> 00:25:46,936 I amassed $300,000 to $400,000 483 00:25:47,023 --> 00:25:48,938 in watches. 484 00:25:49,025 --> 00:25:52,289 I'd buy stuff that you would never, ever buy. 485 00:25:52,420 --> 00:25:58,252 I bought a $1,600 Gianni Versace soap tray. 486 00:25:58,339 --> 00:26:02,996 I still have it and look at it and go, what the fuck? 487 00:26:03,083 --> 00:26:06,129 Who buys a $1,600 soap dish? 488 00:26:06,260 --> 00:26:07,740 Took a limo everywhere. 489 00:26:07,827 --> 00:26:09,132 People used to tease me, what do you do, 490 00:26:09,263 --> 00:26:11,091 take a limo to the mailbox, you know? 491 00:26:11,178 --> 00:26:13,354 They had a tailor that would come 492 00:26:13,441 --> 00:26:15,137 and do custom suits for people. 493 00:26:15,138 --> 00:26:18,228 We used to jump on a helicopter to play golf, 494 00:26:18,315 --> 00:26:19,578 come back the same day. 495 00:26:22,102 --> 00:26:24,234 I was on probably five or six yachts 496 00:26:24,321 --> 00:26:27,020 before Jordan bought the actual yacht, "Nadine." 497 00:26:27,107 --> 00:26:29,631 Jordan had it lengthened by 25 feet 498 00:26:29,718 --> 00:26:32,547 so he could put a heliport on top of it. 499 00:26:32,634 --> 00:26:34,375 We went to Monte Carlo. 500 00:26:34,505 --> 00:26:35,811 I had wired in money 501 00:26:35,942 --> 00:26:37,944 and we were there for maybe a couple hours 502 00:26:38,031 --> 00:26:40,686 and I won almost $1 million. 503 00:26:40,773 --> 00:26:43,427 It was youth wasted on the young to the utmost degree. 504 00:26:43,514 --> 00:26:48,389 If it weren't so illegal, what we were all engaged in, 505 00:26:48,519 --> 00:26:51,913 it would have been something I'd probably still be doing. 506 00:26:54,308 --> 00:26:57,746 The SEC, they moved relatively slowly. 507 00:26:57,877 --> 00:27:00,922 But eventually, the SEC picks up the phone, 508 00:27:00,923 --> 00:27:02,969 calls somebody in the U.S. Attorney's Office, 509 00:27:03,056 --> 00:27:04,666 and says, have I got a case for you. 510 00:27:09,976 --> 00:27:11,150 They said no white shirt and all of my... 511 00:27:11,151 --> 00:27:12,587 I appreciate that. 512 00:27:12,718 --> 00:27:14,283 Business shirts are white shirts. 513 00:27:14,284 --> 00:27:18,592 That's what J. Edgar told us. Gotta wear the white shirt. 514 00:27:18,593 --> 00:27:19,986 My name is Gregory Coleman. 515 00:27:20,073 --> 00:27:21,770 I'm played by Kyle Chandler 516 00:27:21,901 --> 00:27:23,424 in the movie "The Wolf of Wall Street." 517 00:27:23,554 --> 00:27:25,774 And you got the beautiful girls here! 518 00:27:25,861 --> 00:27:26,949 It's wonderful. - All right. 519 00:27:27,080 --> 00:27:28,734 Get the fuck off my boat. 520 00:27:28,821 --> 00:27:31,998 Belfort had the good luck of setting up shop 521 00:27:32,085 --> 00:27:33,913 when the FBI really wasn't focusing 522 00:27:34,000 --> 00:27:35,610 on securities fraud cases. 523 00:27:35,741 --> 00:27:39,091 But all of that changed in 1992. 524 00:27:39,092 --> 00:27:43,009 The FBI sets up a group of agents designed to investigate 525 00:27:43,096 --> 00:27:45,098 Wall Street-related crimes. 526 00:27:45,185 --> 00:27:48,536 Because of that, it moves it from the civil realm 527 00:27:48,623 --> 00:27:50,625 where you're just suing people and getting money 528 00:27:50,756 --> 00:27:52,105 and barring them from the business 529 00:27:52,192 --> 00:27:53,280 to the criminal realm, 530 00:27:53,367 --> 00:27:56,325 because now he could go to jail for it. 531 00:27:58,285 --> 00:28:01,983 The time and tested plan in other criminal enterprises 532 00:28:01,984 --> 00:28:04,160 is to really work your way up from the bottom. 533 00:28:04,247 --> 00:28:08,948 Pick off a couple of low-level brokers was my idea. 534 00:28:09,035 --> 00:28:12,473 During my investigation, there was a group of brokers 535 00:28:12,560 --> 00:28:15,128 who paid other people 536 00:28:15,215 --> 00:28:19,349 to take the test to become a licensed broker. 537 00:28:19,436 --> 00:28:22,656 Their fingerprints were found on those forms 538 00:28:22,657 --> 00:28:25,833 many years after the test-taking occurred. 539 00:28:25,834 --> 00:28:28,097 That meant that from day one, 540 00:28:28,184 --> 00:28:30,839 they were never properly licensed 541 00:28:30,926 --> 00:28:32,928 to sell securities to the public. 542 00:28:33,059 --> 00:28:36,497 The brokers admitted to having other people take their tests 543 00:28:36,584 --> 00:28:39,065 and that gave us leverage. 544 00:28:39,152 --> 00:28:42,458 We were taking the brokers that we've--what we call flipped, 545 00:28:42,459 --> 00:28:44,026 that are cooperating with us. 546 00:28:44,113 --> 00:28:47,029 We just set them up as witnesses 547 00:28:47,160 --> 00:28:49,902 and then had them feed us information 548 00:28:49,989 --> 00:28:54,384 on a regular basis as to what was going on. 549 00:28:57,083 --> 00:29:01,260 When the SEC sues you, you can pay a fine. 550 00:29:01,261 --> 00:29:04,046 But when the FBI get involved, 551 00:29:04,133 --> 00:29:07,180 that's the guys with the windbreakers 552 00:29:07,267 --> 00:29:08,529 with the letters on the back 553 00:29:08,616 --> 00:29:10,400 and the guys who have the guns. 554 00:29:10,487 --> 00:29:12,968 That's what you don't want. 555 00:29:13,055 --> 00:29:15,536 So now there are all kinds of signs 556 00:29:15,623 --> 00:29:19,018 that there's stuff going on that's not good. 557 00:29:19,105 --> 00:29:22,586 You start hearing clicks on your phone. 558 00:29:22,673 --> 00:29:25,851 You try to open up a bank account and the bank says, 559 00:29:25,938 --> 00:29:27,853 no, I'm afraid we can't open an account. 560 00:29:27,940 --> 00:29:29,158 What the hell's up with that? 561 00:29:31,421 --> 00:29:34,293 One day, Jordan said, Ross, we're going to play golf. 562 00:29:34,294 --> 00:29:35,512 Helicopter would fly over 563 00:29:35,599 --> 00:29:36,731 and he would look at the helicopter 564 00:29:36,818 --> 00:29:38,994 and goes-- and he would say to me, 565 00:29:39,081 --> 00:29:40,690 oh, they're definitely watching me. 566 00:29:40,691 --> 00:29:42,737 I think he was getting nervous. 567 00:29:42,868 --> 00:29:46,915 And I think that's when he got bodyguards, too. 568 00:29:47,002 --> 00:29:49,875 Let's turn to your friend, Jordan Belfort. 569 00:29:49,962 --> 00:29:51,658 First of all, he's not my friend. 570 00:29:51,659 --> 00:29:53,182 He's a little punk. 571 00:29:53,269 --> 00:29:54,879 He knows I don't like him. 572 00:29:56,098 --> 00:29:57,491 My name is Bo Dietl. 573 00:29:57,621 --> 00:29:59,101 My real name is Richard Dietl, 574 00:29:59,232 --> 00:30:02,365 but Bo, I adopted when I was 12 years old. 575 00:30:02,496 --> 00:30:05,194 I did security for Jordan and his family. 576 00:30:05,281 --> 00:30:06,892 Marty Scorsese called me up. 577 00:30:06,979 --> 00:30:08,850 He goes, who are we going to get to play you? 578 00:30:08,937 --> 00:30:11,026 I said, Marty, I'm playing myself. 579 00:30:11,113 --> 00:30:12,462 The last time you took these fucking pills, 580 00:30:12,549 --> 00:30:13,812 you put your head in the fucking macaroni. 581 00:30:13,899 --> 00:30:15,726 I had to pick it up. 582 00:30:15,814 --> 00:30:18,120 How did you first meet Jordan Belfort? 583 00:30:18,207 --> 00:30:20,383 Well, it was-- I got a call from Dick Grasso. 584 00:30:20,514 --> 00:30:22,124 Dick Grasso, at that time, 585 00:30:22,211 --> 00:30:24,126 was the head of the New York Stock Exchange. 586 00:30:24,257 --> 00:30:27,913 He says, there's this company in Lake Success. 587 00:30:28,000 --> 00:30:29,871 The owner is this guy, Jordan Belfort. 588 00:30:29,958 --> 00:30:33,483 And he's being shaken down by gangsters, 589 00:30:33,570 --> 00:30:34,789 organized crime guys. 590 00:30:34,876 --> 00:30:37,052 And he needs your help, Bo. 591 00:30:37,183 --> 00:30:40,403 So go over and see him and tell you tell him I sent you. 592 00:30:42,710 --> 00:30:44,059 The organized crime guys, 593 00:30:44,146 --> 00:30:48,759 they knew what kind of money Jordan was making. 594 00:30:48,847 --> 00:30:51,805 Prior to me coming there, they had probably said to him, 595 00:30:51,806 --> 00:30:54,809 Jordan, if you need some cash to buy you this stuff, 596 00:30:54,896 --> 00:30:56,202 we can lend you some cash. 597 00:30:56,332 --> 00:30:58,595 But, you know, once you let them in, 598 00:30:58,682 --> 00:31:01,468 you can't get rid of 'em. 599 00:31:01,555 --> 00:31:03,600 I gave my card to Jordan. 600 00:31:03,731 --> 00:31:06,865 I said, when they come back, just tell them to contact me. 601 00:31:06,952 --> 00:31:10,346 I'll keep them away from you. 602 00:31:10,433 --> 00:31:12,435 And then I would get the phone call, 603 00:31:12,522 --> 00:31:15,046 and oh, what are you doing over there, Bo? 604 00:31:15,047 --> 00:31:17,005 You know, my boss told me to call you. 605 00:31:17,136 --> 00:31:18,528 So we had to sit down. 606 00:31:24,752 --> 00:31:26,145 And I told the guys, look, guys, 607 00:31:26,232 --> 00:31:30,236 tell your boss to call his boss and ask who I am, OK? 608 00:31:30,323 --> 00:31:33,282 And I knew everybody. I grew up with all of them. 609 00:31:33,369 --> 00:31:35,415 And I had a respect factor. 610 00:31:35,545 --> 00:31:38,112 I grew up in Ozone Park. 611 00:31:38,113 --> 00:31:42,421 I grew up with John Gotti, the Scopo brothers. 612 00:31:42,422 --> 00:31:46,121 I met Fat Tony Salerno driving Scopo up to the Colonial. 613 00:31:46,208 --> 00:31:47,253 So I knew everybody. 614 00:31:47,383 --> 00:31:49,210 They're my friends, so that's simple. 615 00:31:51,126 --> 00:31:53,215 Let's just go somewhere else. 616 00:31:53,302 --> 00:31:54,650 You know, this one, I'm protecting. 617 00:31:54,651 --> 00:31:57,524 I'm going to make money doing the security here legit. 618 00:31:57,611 --> 00:31:59,265 And that's it. 619 00:31:59,352 --> 00:32:00,831 And I'm not going to let you shake this place down. 620 00:32:00,919 --> 00:32:02,224 That was the end of that. 621 00:32:04,270 --> 00:32:06,925 Jordan had a nice-sized piece of property. 622 00:32:07,012 --> 00:32:10,145 That is portrayed in the movie. 623 00:32:10,232 --> 00:32:12,843 We had security at his home 24/7. 624 00:32:12,931 --> 00:32:15,411 I had Rocco day, Rocco night. 625 00:32:15,498 --> 00:32:17,586 We even had two guards who worked in shifts. 626 00:32:17,587 --> 00:32:19,066 Both named Rocco. 627 00:32:19,067 --> 00:32:21,200 We had the security in his offices, 628 00:32:21,287 --> 00:32:24,159 the place of business. 629 00:32:24,246 --> 00:32:27,074 But Jordan was paranoid. 630 00:32:27,075 --> 00:32:29,599 He was seriously a paranoid little punk. 631 00:32:29,686 --> 00:32:30,644 They're coming, they're coming. 632 00:32:30,731 --> 00:32:31,950 Oh, he's looking over his shoulder. 633 00:32:32,037 --> 00:32:37,303 He was a constantly high, constantly high. 634 00:32:37,390 --> 00:32:38,739 Jordan, he was the guy to dangle the carrot 635 00:32:38,826 --> 00:32:40,132 in front of people's faces. 636 00:32:40,262 --> 00:32:41,481 People knew that he made a lot of money, 637 00:32:41,568 --> 00:32:42,482 he had a lot of money. 638 00:32:42,569 --> 00:32:43,874 Everybody wanted a piece of that. 639 00:32:43,962 --> 00:32:46,747 And now, they were indebted to him. 640 00:32:46,877 --> 00:32:49,010 So he controlled people that way. 641 00:32:49,097 --> 00:32:50,707 It was all about him making that money. 642 00:32:53,101 --> 00:32:57,845 I am a good guy and I was a good guy, 643 00:32:57,932 --> 00:33:01,457 but I got involved in a very bad thing. 644 00:33:01,544 --> 00:33:05,331 Once I knew it was full-blown illegal, I had a real dilemma. 645 00:33:05,418 --> 00:33:09,335 And I think that's what really accelerated my drug use. 646 00:33:12,860 --> 00:33:16,342 So it got to the point where 647 00:33:16,429 --> 00:33:21,477 I needed to be stoned to do what I was doing. 648 00:33:21,564 --> 00:33:24,828 I would be so stoned at the end of a day 649 00:33:24,915 --> 00:33:27,570 that there was no getting me up. 650 00:33:27,657 --> 00:33:30,573 They would roll me 651 00:33:30,660 --> 00:33:33,620 out of my office 652 00:33:33,707 --> 00:33:35,578 out the doors 653 00:33:35,709 --> 00:33:38,190 into my car. 654 00:33:38,277 --> 00:33:42,455 Every time I got into a car, I was never sober. 655 00:33:42,542 --> 00:33:46,415 I crashed 17 cars. 656 00:33:46,546 --> 00:33:49,505 I actually got the opportunity to crash a Bentley 657 00:33:49,592 --> 00:33:52,030 into the brick wall of one of the most 658 00:33:52,160 --> 00:33:54,162 famous steakhouses in Long Island. 659 00:33:54,249 --> 00:33:56,991 Now, one may ask, Howie, how did you do that? 660 00:33:57,078 --> 00:33:58,993 Oh, because in my stoned head, 661 00:33:59,080 --> 00:34:02,257 I thought they had a drive-thru. 662 00:34:02,388 --> 00:34:05,304 I was drinking and doing quaaludes. 663 00:34:05,391 --> 00:34:08,611 And I had a Ferrari and I smashed it up. 664 00:34:08,742 --> 00:34:11,613 It wasn't all fun and games. 665 00:34:11,614 --> 00:34:12,920 You know, young guys, 666 00:34:13,007 --> 00:34:15,009 and they think that's the funniest thing in the world. 667 00:34:15,096 --> 00:34:16,663 It's amazing that I'm alive. 668 00:34:16,750 --> 00:34:21,059 It ate away at my soul. 669 00:34:21,189 --> 00:34:23,626 And I can remember when I was on substances 670 00:34:23,713 --> 00:34:27,717 writing all the time, 671 00:34:27,804 --> 00:34:31,765 when will World War III in my head stop? 672 00:34:34,115 --> 00:34:37,727 I had the real Howie on this shoulder 673 00:34:37,814 --> 00:34:39,947 do the right thing, you're a good guy. 674 00:34:40,078 --> 00:34:42,036 And on this shoulder... 675 00:34:42,123 --> 00:34:44,299 go rob more money. You'll love it. 676 00:34:53,656 --> 00:34:56,181 As we went further in an investigation, 677 00:34:56,311 --> 00:35:01,055 I met a low-level broker who we had leverage on 678 00:35:01,142 --> 00:35:03,623 to become a cooperating witness. 679 00:35:03,710 --> 00:35:05,320 So this particular doc, I'll just read you a section. 680 00:35:05,451 --> 00:35:06,191 It says... 681 00:35:15,025 --> 00:35:17,723 This is coming from sources. 682 00:35:17,724 --> 00:35:19,378 Now you have to go out and confirm 683 00:35:19,465 --> 00:35:20,856 what the sources are saying. 684 00:35:22,555 --> 00:35:24,861 So for me, I go out and knock on doors. 685 00:35:26,733 --> 00:35:29,083 Eight out of ten would tell me to get off their porch 686 00:35:29,170 --> 00:35:30,128 and the other two would tell me 687 00:35:30,215 --> 00:35:32,782 to get the fuck off their porch. 688 00:35:32,913 --> 00:35:34,957 But I was never going to give up. 689 00:35:34,958 --> 00:35:37,439 I envisioned the bad guys in a suit of armor. 690 00:35:37,526 --> 00:35:41,095 And I just needed to get into the suit of armor 691 00:35:41,226 --> 00:35:44,533 and infect them and then they would die. 692 00:35:44,664 --> 00:35:47,014 I was going to latch on to a leg and never let go 693 00:35:47,145 --> 00:35:50,365 no matter how much they kicked me and tried to push me away. 694 00:35:53,586 --> 00:35:55,762 While the FBI was struggling to make headway 695 00:35:55,849 --> 00:35:59,896 in its investigation, the SEC come to realize 696 00:35:59,983 --> 00:36:04,510 through their own probe into Stratton Oakmont 697 00:36:04,597 --> 00:36:07,991 that this is a company built on fraud, 698 00:36:08,122 --> 00:36:10,384 manipulation, deception. 699 00:36:10,385 --> 00:36:14,824 It all revolves around Jordan Belfort. 700 00:36:14,955 --> 00:36:16,609 The SEC was convinced he was a bad guy, 701 00:36:16,696 --> 00:36:18,001 he shouldn't be in the business, 702 00:36:18,132 --> 00:36:21,701 so Jordan had decided he wasn't going to fight them. 703 00:36:21,788 --> 00:36:25,225 Jordan took a settlement. 704 00:36:25,226 --> 00:36:30,231 Jordan took a bar from the securities business. 705 00:36:30,318 --> 00:36:34,279 You're out. Lifetime. You're out. 706 00:36:34,366 --> 00:36:36,019 I knew the day would eventually come where 707 00:36:36,150 --> 00:36:37,586 I'd have to be moving on. 708 00:36:37,717 --> 00:36:39,980 There's a scene out of "The Wolf of Wall Street," 709 00:36:40,067 --> 00:36:42,896 the SEC barring him from the industry. 710 00:36:42,983 --> 00:36:47,901 He makes this rah-rah speech that he ain't leaving. 711 00:36:47,988 --> 00:36:49,337 I'm not fucking leaving! 712 00:36:52,775 --> 00:36:55,125 Well, this speech never happened. 713 00:36:55,213 --> 00:36:57,519 That scene was complete bullshit. 714 00:36:57,606 --> 00:36:59,173 He got thrown out. 715 00:36:59,304 --> 00:37:00,435 The movie is inaccurate. 716 00:37:00,566 --> 00:37:03,221 So he leaves, he gets a small fine, 717 00:37:03,308 --> 00:37:06,876 like $100,000, a slap on the wrist, and he leaves. 718 00:37:07,007 --> 00:37:09,662 He quietly sailed off into the distance. 719 00:37:09,792 --> 00:37:13,056 There was never a farewell speech. 720 00:37:13,143 --> 00:37:14,884 Never happened. 721 00:37:14,971 --> 00:37:16,408 The truth of the matter is 722 00:37:16,495 --> 00:37:20,194 Jordan left the firm and Danny took over. 723 00:37:20,281 --> 00:37:23,110 For Jordan, this was yet another moment 724 00:37:23,241 --> 00:37:25,112 where he was at a crossroads. 725 00:37:25,199 --> 00:37:27,723 What was he going to do next? 726 00:37:27,810 --> 00:37:31,423 Stratton Oakmont was directed to change its ways, 727 00:37:31,510 --> 00:37:35,035 become legit in order to continue its business. 728 00:37:36,950 --> 00:37:38,647 I get a phone call. 729 00:37:38,734 --> 00:37:40,866 Jordan and I, we hadn't spoken in a while. 730 00:37:40,867 --> 00:37:43,869 I'm literally buried in law school 731 00:37:43,870 --> 00:37:46,394 and he is in this new life. 732 00:37:46,481 --> 00:37:48,657 He just said, Andy, I need to see you. 733 00:37:48,744 --> 00:37:51,878 OK, I drop what I'm doing and I go and see him. 734 00:37:52,008 --> 00:37:54,663 'Cause he asked me to, period. That's the relationship we had. 735 00:37:54,794 --> 00:37:56,622 He was my best friend. 736 00:37:56,709 --> 00:37:59,538 Jordan's probably closer to me than my own brother. 737 00:38:01,670 --> 00:38:04,238 So I arrive at the Beverly Wilshire Hotel 738 00:38:04,325 --> 00:38:08,286 and I go up to his room and big, lush suite. 739 00:38:08,373 --> 00:38:10,026 And I'm looking around, like, 740 00:38:10,113 --> 00:38:11,985 this is not the world that I live in. 741 00:38:12,072 --> 00:38:13,639 I'm coming from law school. 742 00:38:13,726 --> 00:38:17,904 I'm expecting to take jobs at a DA's office. 743 00:38:18,034 --> 00:38:20,994 Jordan tells me what he's dealing with. 744 00:38:21,081 --> 00:38:22,952 He was having problems with the regulators. 745 00:38:23,039 --> 00:38:26,042 The SEC, NASD. 746 00:38:26,129 --> 00:38:29,175 I don't remember if it was during that conversation, 747 00:38:29,176 --> 00:38:32,701 but he asked me to come. 748 00:38:32,832 --> 00:38:36,096 My role was to implement 749 00:38:36,183 --> 00:38:37,967 what was being required from the SEC. 750 00:38:40,535 --> 00:38:44,408 And he knew that my mother was terminally ill. 751 00:38:44,409 --> 00:38:47,499 So it was, like, providing me an opportunity 752 00:38:47,586 --> 00:38:51,764 to come back to New York so I can have 753 00:38:51,851 --> 00:38:56,334 those last, you know, moments with my mom. 754 00:38:56,421 --> 00:38:58,074 This is a very difficult subject for me. 755 00:38:58,161 --> 00:39:01,861 I mean, I had choices. 756 00:39:01,948 --> 00:39:04,951 Build this career, or, you know, 757 00:39:05,081 --> 00:39:09,651 my mother would pass away and then I'd have no time with her. 758 00:39:09,738 --> 00:39:12,350 Having an opportunity to be around my mom 759 00:39:12,480 --> 00:39:15,396 for those last years was important. 760 00:39:15,527 --> 00:39:18,007 So I was going to find a way to make it work. 761 00:39:25,319 --> 00:39:27,190 My first arrival there, 762 00:39:27,321 --> 00:39:29,584 and I'm working 16, 18-hour days 763 00:39:29,715 --> 00:39:32,892 to make sure that this firm survives. 764 00:39:32,979 --> 00:39:34,894 Stratton Oakmont could have been changed, 765 00:39:34,981 --> 00:39:36,590 transactions could have changed, 766 00:39:36,591 --> 00:39:40,029 and still made the firm a zillion dollars. 767 00:39:40,160 --> 00:39:44,556 The SEC rule states I had to record all the phone calls 768 00:39:44,643 --> 00:39:45,905 going in and out of this firm. 769 00:39:49,387 --> 00:39:52,346 If you were caught doing a transaction 770 00:39:52,433 --> 00:39:55,567 and I couldn't pull the tape of that transaction, 771 00:39:55,654 --> 00:39:59,353 you have violated the SEC guidelines. 772 00:39:59,440 --> 00:40:03,618 All of this system from '94, 773 00:40:03,749 --> 00:40:06,665 it's working, but in '95... 774 00:40:10,364 --> 00:40:11,974 All of a sudden, it started happening where there were 775 00:40:12,061 --> 00:40:15,369 certain conversations that were missing. 776 00:40:15,456 --> 00:40:16,979 Think about what you're dealing with. 777 00:40:17,066 --> 00:40:18,938 You know, they came in and they said, 778 00:40:19,025 --> 00:40:21,288 every phone call's going to be taped. 779 00:40:21,375 --> 00:40:23,159 Ooh, wow. 780 00:40:23,246 --> 00:40:26,859 So we had a phone system for "taped calls" 781 00:40:26,946 --> 00:40:30,602 and we then built a phone system for not-taped calls. 782 00:40:30,689 --> 00:40:32,778 You know, it didn't take very much thinking on that one. 783 00:40:35,737 --> 00:40:37,870 So it seems like the SEC's directives 784 00:40:37,957 --> 00:40:40,873 were not taken seriously by Stratton Oakmont, 785 00:40:41,003 --> 00:40:43,658 and it was just business as usual. 786 00:40:43,789 --> 00:40:47,314 To be honest, I think that Danny was just 787 00:40:47,401 --> 00:40:50,970 the front person of Stratton. 788 00:40:51,057 --> 00:40:53,320 And Jordan is the puppet master 789 00:40:53,451 --> 00:40:56,018 and he's pulling strings in the background 790 00:40:56,105 --> 00:40:58,281 wheeling and dealing. 791 00:40:58,412 --> 00:41:00,631 Jordan was active in coordinating deals 792 00:41:00,632 --> 00:41:02,851 with Biltmore after he was suspended. 793 00:41:02,982 --> 00:41:05,941 We would get together at restaurants 794 00:41:06,028 --> 00:41:08,117 and we would discuss trading 795 00:41:08,248 --> 00:41:13,775 with other firms that comprised our axis of evil. 796 00:41:13,862 --> 00:41:15,516 Jordan was still involved in IPOs 797 00:41:15,647 --> 00:41:17,344 through Stratton's sister firms, 798 00:41:17,475 --> 00:41:20,434 Biltmore and Monroe Parker. 799 00:41:20,521 --> 00:41:23,829 I have these FBI documents that actually states 800 00:41:23,916 --> 00:41:26,396 Jordan's making money off of these IPOs, 801 00:41:26,484 --> 00:41:28,573 but it seems to be in violation 802 00:41:28,703 --> 00:41:31,706 of the agreement he signed with the SEC that barred him. 803 00:41:31,837 --> 00:41:36,102 Mr. Belfort was involved in all the deals. 804 00:41:36,232 --> 00:41:40,280 The man behind the curtain was always Jordan Belfort. 805 00:41:55,425 --> 00:41:58,603 During this time, '94, '95, 806 00:41:58,690 --> 00:42:01,475 we went on vacations to Newport 807 00:42:01,562 --> 00:42:04,173 and Martha's Vineyard and Nantucket. 808 00:42:04,304 --> 00:42:06,698 We would spend time together. 809 00:42:06,785 --> 00:42:08,829 When I was at Stratton Oakmont, 810 00:42:08,830 --> 00:42:13,355 my job was to handle all of the federal regulators, 811 00:42:13,356 --> 00:42:16,882 deal with the lawyers, the independent auditor. 812 00:42:16,969 --> 00:42:18,971 I knew what had to be done and I did it. 813 00:42:19,058 --> 00:42:20,712 He trusted me. 814 00:42:21,713 --> 00:42:23,062 Why me? 815 00:42:23,149 --> 00:42:25,193 'Cause he knew that there was nobody 816 00:42:25,194 --> 00:42:26,848 that was going to throw me off-kilter. 817 00:42:26,935 --> 00:42:28,807 And I dealt with all the regulators 818 00:42:28,894 --> 00:42:31,200 and attorneys straight up, 819 00:42:31,331 --> 00:42:34,900 But that's the part where this unravels. 820 00:42:37,729 --> 00:42:42,560 One day, we're going through piles and piles of documents. 821 00:42:42,690 --> 00:42:44,736 Up comes a copy of a document 822 00:42:44,823 --> 00:42:47,607 that had not yet seen the light of day. 823 00:42:47,608 --> 00:42:51,133 No one knew that that document existed. 824 00:42:51,220 --> 00:42:54,310 The document paid him $1 million a month. 825 00:42:54,441 --> 00:42:56,878 A month. 826 00:42:57,009 --> 00:42:58,401 On his way out from Stratton Oakmont, 827 00:42:58,532 --> 00:43:00,621 Jordan negotiates this exit agreement. 828 00:43:00,708 --> 00:43:03,015 No one knew about Jordan's exit agreement 829 00:43:03,145 --> 00:43:06,975 except for Danny, Jordan, and their accountant. 830 00:43:07,106 --> 00:43:08,846 But now we know 831 00:43:08,847 --> 00:43:12,590 over time, they agreed to pay him $180 million. 832 00:43:12,677 --> 00:43:15,461 The document as written 833 00:43:15,462 --> 00:43:19,248 did not technically violate his SEC agreement. 834 00:43:19,335 --> 00:43:21,642 But the argument that could be made 835 00:43:21,773 --> 00:43:27,256 is that you really had control of the firm 836 00:43:27,387 --> 00:43:30,998 because all the money's being paid out to you. 837 00:43:30,999 --> 00:43:35,089 If all this money is still flowing to Jordan, 838 00:43:35,090 --> 00:43:37,440 one could argue that he actually never left. 839 00:43:37,571 --> 00:43:42,315 Now Jordan and I have a private conversation. 840 00:43:42,402 --> 00:43:45,709 There was a lot of yelling. 841 00:43:45,710 --> 00:43:47,233 He didn't want for the regulators 842 00:43:47,320 --> 00:43:49,451 to have that document. 843 00:43:49,452 --> 00:43:52,934 He just said, Andy, you work for me. 844 00:43:53,021 --> 00:43:57,025 You're going to do everything to protect me. 845 00:43:57,156 --> 00:44:00,812 'Cause as far as he's concerned... 846 00:44:00,942 --> 00:44:04,119 I'm supposed to fall on my sword. 847 00:44:04,206 --> 00:44:06,208 Isn't that what best friends do? 848 00:44:08,994 --> 00:44:11,257 He threw me over the side. 849 00:44:11,387 --> 00:44:15,914 I was not going to do that and put myself in a position 850 00:44:16,001 --> 00:44:20,832 where the company could say I did something wrong. 851 00:44:20,962 --> 00:44:23,486 It took a part of me. 852 00:44:23,573 --> 00:44:26,664 It took a part of who I am. 853 00:44:26,751 --> 00:44:30,058 Because I no longer could feel that I could trust. 854 00:44:30,189 --> 00:44:33,279 It was very hard for me 855 00:44:33,409 --> 00:44:37,762 between all of this, and my mother's terminally ill. 856 00:44:39,546 --> 00:44:42,549 So it was like, my life 857 00:44:42,680 --> 00:44:46,944 came and blew up in Stratton Oakmont. 858 00:44:46,945 --> 00:44:49,904 That was it. Our friendship was over. 859 00:44:54,169 --> 00:44:57,651 After Jordan's finally disbarred in 1994, 860 00:44:57,738 --> 00:44:59,131 his whole attitude changed. 861 00:44:59,218 --> 00:45:02,742 His power, his empowerment, you saw, started to lessen 862 00:45:02,743 --> 00:45:06,181 because he wasn't able to give his morning meetings. 863 00:45:06,312 --> 00:45:10,359 He wasn't a part of that whole camaraderie that he created. 864 00:45:10,490 --> 00:45:14,319 He was upset about that 'cause he loves to work. 865 00:45:14,320 --> 00:45:15,669 You know, you have to remember 866 00:45:15,756 --> 00:45:17,671 when you have that sort of personality, 867 00:45:17,758 --> 00:45:20,979 that grandiose personality, 868 00:45:21,109 --> 00:45:24,939 nobody's going to tell him what to do. 869 00:45:25,026 --> 00:45:26,462 It has to put pressure on a person. 870 00:45:26,549 --> 00:45:28,377 Constantly running, constantly plotting, 871 00:45:28,464 --> 00:45:31,990 constantly tap-dancing and keeping up this illusion. 872 00:45:32,077 --> 00:45:33,556 It could not have been easy. 873 00:45:33,687 --> 00:45:38,561 He was a multi-faceted human being like we all are. 874 00:45:38,692 --> 00:45:40,476 But I don't know what their relationship was, 875 00:45:40,563 --> 00:45:45,612 Nadine and Jordan, but I know it was starting to deteriorate. 876 00:45:45,743 --> 00:45:48,397 We didn't really fight about women ever. 877 00:45:48,528 --> 00:45:50,182 We fought about his drug addiction. 878 00:45:50,269 --> 00:45:53,272 But he has all the money and he has all the power. 879 00:45:53,359 --> 00:45:55,361 Even if I want to leave him, 880 00:45:55,448 --> 00:45:59,147 I'm thinking, is he going to try to take my kids from me? 881 00:45:59,278 --> 00:46:01,671 I'm totally afraid of him. 882 00:46:01,759 --> 00:46:05,240 Jordan had a big vial of ludes. 883 00:46:05,327 --> 00:46:09,201 And Nadine said to me, Ross, I do not want him having these. 884 00:46:09,288 --> 00:46:10,942 Take them. 885 00:46:11,029 --> 00:46:13,292 Nadine was upset and worried 886 00:46:13,422 --> 00:46:15,685 that Jordan was going to kill himself on all these ludes 887 00:46:15,773 --> 00:46:19,863 'cause he was taking them very frequently. 888 00:46:19,864 --> 00:46:21,822 Jordan was partying in the Hamptons, 889 00:46:21,953 --> 00:46:26,871 ripping apart furniture looking for drugs. 890 00:46:26,958 --> 00:46:30,004 He would fall asleep in public routinely. 891 00:46:30,091 --> 00:46:33,181 It was sad. It was sad to watch. 892 00:46:33,268 --> 00:46:35,749 His drug addiction became out of control 893 00:46:35,836 --> 00:46:38,143 to the point where my friendship to him 894 00:46:38,230 --> 00:46:41,363 was also being his bodyguard and his babysitter. 895 00:46:41,450 --> 00:46:42,582 He really didn't care. 896 00:46:42,669 --> 00:46:44,236 He was in such a stupor 897 00:46:44,323 --> 00:46:47,195 that he never realized that-- what was coming. 898 00:46:53,288 --> 00:46:56,465 With this investigation, I knew I was on the right trail. 899 00:46:56,552 --> 00:47:00,513 I had all of this information, but I can't prosecute a case. 900 00:47:00,600 --> 00:47:02,209 I can only investigate it. 901 00:47:02,210 --> 00:47:03,777 There did come a point in time where 902 00:47:03,864 --> 00:47:07,520 I just didn't think I was ever going to get it prosecuted. 903 00:47:07,607 --> 00:47:11,959 One of the big drawbacks was a turnover of prosecutors. 904 00:47:12,046 --> 00:47:13,656 We went through five. 905 00:47:13,787 --> 00:47:18,313 After each prosecutor left, I would start over 906 00:47:18,400 --> 00:47:20,315 and I would bring in the same witnesses again. 907 00:47:20,402 --> 00:47:23,014 We'd go through the same testimony again. 908 00:47:23,101 --> 00:47:26,886 It really started to concern me. 909 00:47:26,887 --> 00:47:29,934 Even people at the FBI were saying, 910 00:47:30,064 --> 00:47:32,892 hey, Coleman, you gotta make this case, right? 911 00:47:32,893 --> 00:47:35,243 You gotta do something here. 912 00:47:35,374 --> 00:47:37,332 There was a point in time where I was pretty sure 913 00:47:37,419 --> 00:47:41,771 the Bureau was going to shut down the investigation. 914 00:47:41,859 --> 00:47:45,166 But then at some point, Joel Cohen joined the case. 915 00:47:45,253 --> 00:47:47,734 Literally changed the case. 916 00:47:49,605 --> 00:47:51,693 I'd just come back from a year's assignment in Paris 917 00:47:51,694 --> 00:47:53,696 and senior people in the office said 918 00:47:53,783 --> 00:47:55,046 there's a Stratton Oakmont investigation 919 00:47:55,176 --> 00:47:56,264 you probably know about. 920 00:47:56,395 --> 00:47:58,005 It's been going on for a couple years. 921 00:47:58,092 --> 00:47:59,311 It's not making a lot of headway. 922 00:47:59,441 --> 00:48:01,529 Would you be interested in taking this on? 923 00:48:01,530 --> 00:48:04,707 In the mass of everything that Greg had been gathering... 924 00:48:04,838 --> 00:48:06,143 there were a lot of gems 925 00:48:06,144 --> 00:48:08,624 and a lot of pathways to be successful. 926 00:48:08,711 --> 00:48:10,365 These guys are toast. 927 00:48:28,296 --> 00:48:30,037 Inside Stratton Oakmont, 928 00:48:30,124 --> 00:48:32,561 the brokers believe they're invincible. 929 00:48:33,823 --> 00:48:36,174 The Batline rang and said... 930 00:48:39,394 --> 00:48:41,092 NASDAQ shut us down. 931 00:48:41,179 --> 00:48:44,356 Everybody scattered like roaches. 932 00:48:44,486 --> 00:48:48,708 But Jordan is addicted to the game. 933 00:48:48,795 --> 00:48:50,231 He had $3 million in his bedroom. 934 00:48:52,581 --> 00:48:53,539 It's the American way. 935 00:48:53,626 --> 00:48:54,801 And to me, that was like 936 00:48:54,888 --> 00:48:58,196 basically saying to the government, fuck you. 937 00:48:58,283 --> 00:49:00,894 The FBI is conducting an investigation. 938 00:49:01,025 --> 00:49:03,810 Jordan started to feel the heat. 939 00:49:03,941 --> 00:49:08,162 The big breakthrough was an ex-Hell's Angel. 940 00:49:08,249 --> 00:49:11,470 He is a piece in the money laundering chain. 941 00:49:11,557 --> 00:49:14,647 Our goal was just to try to see if we could flip Jordan. 942 00:49:14,734 --> 00:49:16,779 And we tie it with the bow. We have our indictment. 943 00:49:19,739 --> 00:49:21,393 He's a rat piece of shit.