Martin Scorsese’s “The Wolf of Wall Street” told the story of stockbroker Jordan Belfort, who, following his stock manipulation scheme, went to prison for securities fraud. Red Granite had told him the firm had legitimate investors. The complaint says he could secure another film deal for his follow-up book “Catching the Wolf of Wall Street” if he were untied from his deal with Red Granite. Red Granite fully financed “The Wolf of Wall Street,” which was distributed by Paramount Pictures. As depicted in “The Wolf of Wall Street,” he defrauded investors with a pump-and-dump scheme manipulating the value of penny stocks.

Source: Los Angeles Times January 23, 2020 21:53 UTC