While the exploits of Academy Award-winning actor Leonardo DiCaprio in the movie “Wolf of Wall Street” left audiences in awe and amazement, they weren’t a very far from the real occurrences in the financial capital of the world.
Stories of greed, revenge and debauchery abound in the cutthroat world of the stock market. Following are just a few examples that could be the next Hollywood Blockbuster.The Tale of the Slick Pharma-Con
Martin Shkreli’s fascination for profits and lust for attention would have made an excellent plot for a good many novels and films.
Martin began his stint on the Wall Street world when he took his floundering company, Turing Pharmaceuticals, and multiplied its worth many times over. This was done by taking his 65-year-old HIV medication and raised the price to $750 per tablet from the conscientious $13.50 it was at earlier. This led to immediate profits.
In 2015, Martin was arrested for fraud and released on bail pending his trial, set for 2017. Mr. Shkreli has made himself a spectacle and nuisance in the world of the rich and famous by trolling various celebrities and journalists. His antics have recently gotten him banned from Twitter.
Eddie Lampert’s Cool Get Away
This story seems like it came from the desk of any celebrated crime novelist. Eddie Lampert was working as the manager of the ESL Billionaire Hedge Fund in 2003. Lampert was in the parking lot in Greenwich, Connecticut when he was kidnapped by masked gunmen.
The men informed Lampert that he was a hostage for a $1 Million ransom and they had every intention of killing him if their demands were not met. Thy held Lampert in the hotel bathroom and made him record a message to be delivered to his wife.
Nevertheless, the smooth-talking manger convinced his captors to release him on good faith and that he would leave $40 K in a Wendy’s dumpster just for them. Lampert was released and the confused kidnappers were arrested by the police when they attempted to use Mr. Lampert’s credit card to order a pizza.
The SAC Intern Training Program
SAC Capital’s CEO Steve Cohen paid a $135 Million settlement for charges of insider trading, but the details uncovered in the report were far more scathing than some unfair stock actions. There appeared to be a highly irregular training program in effect at the SAC offices.
Andrew Tong was an aspiring young analyst working under a portfolio manager Ping Jiang. Among more mundane responsibilities, Andrew Tong was asked to dress in female attire and take female hormonal in preparation for a rigorous training program. The training program included forced oral sex, simulated imprisonment and even the introduction of foreign objects into Mr. Tong’s rectum.
The story like this would make a dramatic adaptation of the dark side of Wall Street, for those with the stomach to bear such a tale of oppression and ambition.
Wall Streeter’s Bitterly Bemoan their Illicit Actions
Months before the crash in 1987, Wall Streeters were high on more than ambitions, dreams and money. Cocaine was the flavor of the town and things were getting out of hand. Wall Street had become rife with Colombian nose candy and the DEA was all set to nip the illicit activity in the bud.
The crackdown was code-named “Operation Buy and Cry”. This was due to the habit of Wall Streeter to desperately attempt to buy the white product from undercover cops posing as dealers. When they subsequently arrested, the tears would flow as they realized their careers on the Street of gold were lost forever.
The operation was detailed perfectly in the Sun Sentinel. Half way through the month of April, over a hundred users had already been picked up by the police.
In one iconic sting operation code named “Closing Bell”, a small crowd of Wall Street traders were arrested for possession. The crazy part, these smart suppliers were doling out grams of cocaine for information and stocks.
Out of the many arrested that fateful raid, eleven were from the prestigious broker-dealer firm Brooks, Weinger, Robbins & Leeds. Another five were employees in the New York Depository of Trust.