- Jordan Belfort, the inspiration behind the character in “The Wolf of Wall Street,” is bullish on the City of London’s chances of serving any Brexit eventuality.
- The former penny stockbroker spent 22 months in prison for scamming investors. He claims he has “no doubts” that London will remain a key financial hub after Brexit.
- “It’s been there for hundreds of years, it’s not going to change, it’s all fear mongering on that level,” Belfort said.
Despite a number of major financial institutions pulling staff, office space, and money from London since the Brexit vote in 2016, the Wolf of Wall Street’s savvy financial advice points to the City staying competitive regardless.
Jordan Belfort, whose “Wolf of Wall Street” memoir about his time as a penny stockbroker led to a Martin Scorsese film starring Leonardo DiCaprio, has suggested that London will remain an important financial center after Brexit.
“It will work out for the City, I have no doubt that stay, go, whatever, London is going to be a financial hub and it will remain a financial hub,” said Belfort in an interview with the Press Association. “It’s been there for hundreds of years, it’s not going to change, it’s all fear mongering on that level.”
Belfort, who founded the disgraced brokerage firm Stratton Oakmont, pleaded guilty to money laundering and securities fraud in 1999 and was ordered to pay $US110 million to investors. He is now a motivational speaker.
Belfort made the Brexit claims just a week after Barclays announced it would move £160 billion ($US208 billion) out of London – the bank’s move adds to a long list of financial institutions wary of Brexit.
“People want to do business in London, they’re comfortable doing business here. They have been doing business for how many? 270 years, right?” Belfort said.
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