Jordan Belfort, author of The Wolf of Wall Street and inspiration for the movie of the same name, has told reporters he expects to repay the victims of his fraud this year.
Bloomberg reports the disgraced stockbroker is expecting to net more than $US100 million ($A107.3 million) this year from a US motivational speaking tour, which will be more than he made in his “best year as a broker”.
“After six months of putting all the profit from the US tour into an escrow account, it will go directly back to investors,” said Belfort. “Once everyone is paid back, believe me I will feel a lot better”.
“I got greedy. Greed is not good. Ambition is good, passion is good. Passion prospers. My goal is to give more than I get, that’s a sustainable form of success,” he said.
iSentia lodges IPO prospectus
Australian media monitoring business iSentia is seeking to list on the Australian Securities Exchange, today lodging a prospectus for an initial public offering.
The company said in an announcement it will issue 139 million shares at a price of $2.04 per share, in a bid to raise $283.5 million. After the IPO is complete, 50 million shares will be held by the company’s majority shareholders Quadrant Private Equity.
The offer, which is being managed by Macquarie Capital and UBS, is expected to open on Tuesday May 27.
Shares down on open
Aussie shares are down again this morning, as investor weigh up declines in the iron ore price and persistent concerns about China.
The S&P/ASX200 benchmark was down 12.7 points to 5396.3 points at 12.03pm AEST. On Monday, the Dow Jones closed 20.55 points higher, up 0.12% to 16511.9 points.
News Editor
Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on Twitter at @ellykeating.
