Stratton Oakmont Case Summary

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Stratton Oakmont, Inc was a long island New York, “over-the Counter” brokerage house founded by Jordan Belfort. . The firm was the subject of numerous disciplinary actions brought by the NASD beginning in 1989. The firm was shut down in december 1996, and in 1999 Belfort and Porush were indicted for securities fraud and money laundering.
The things they should have done different is that they should have just ran the company the way is should have been ran, no illegal stuff. Stratton Oakmont did not have a product control function to verify prices of its positions and monitor trading activity. Stratton oakmont inflated the price of an owned stock through false and misleading positive statements.

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