ABSTRACT
The Wolf of Wall Street was famous for fraud and corruption. Jordan Belfort's story of greed, power and excess is a tale that he documented in his book. The social and economic impact of Belfort's fraud and corruption was enormous for all direct and indirect victims. Yet Belfort is just one of many white-collar criminals who abuse their trusted positions to harm individuals, organizations and nations for personal and business benefits. A fraudulent practice is any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other valuable benefit or to avoid an obligation. Fraud consists of deceitful practice or willful device, resorted to with the intent to deprive another of his or her right, or to cause harm. The Federal Bureau of Investigation (FBI) had high signal alertness, but probably limited pattern recognition. In the end, the Wolf of Wall Street was prosecuted and sent to prison.
