Authorities Allege The Real Wolf Of Wall Street Is Living And Working In Australia To Avoid Paying Victims

Getty/Michael Loccisano

A report in the Wall Street Journal says US authorities claims Jordan Belfort, the real Wolf of Wall Street, is living in Australia to avoid repaying victims of his investment fraud.

The newspaper says Belfort is working with a Melbourne sales company and conducting online hangouts, and that the US Attorney’s Office in Brooklyn thinks he’s living off $US1 million in book proceeds, movie royalties and motivational speaker fees in Australia which can’t be seized by US authorities.

“He’s in Australia and using that loophole to avoid paying,” a spokesman for the US Attorney’s office, Robert Nardoza, told the WSJ.

A spokesperson for Belfort — who recently said he would pay all profits from the Wolf of Wall Street movie to victims — said he had been making his restitution payments, and had not moved to Australia from his home in California.

There’s more here.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.