In hindsight, the story is interesting for its timing. He was living off his book advance and the option paid for his story as a movie, telling us at the time that DiCaprio was 'interested' in the role. At that point, he was renting a home in Manhattan Beach, Calif., so he could be close to his children. The video here is the story we aired on CNBC in 2007 profiling Belfort, back when his book was just being released. He served 22 months in a California federal prison, where his cellmate was Tommy Chong of 'Cheech and Chong' fame. Lots and lots of drugs.ДЄt one point, Belfort said he was using 22 different drugs in order to balance everything out.ДЄfter a long investigation during which Belfort claims he even bugged the room where Security and Exchange Commission investigators were working, Belfort was finally caught and convicted. He spent his fortune lavishly on Coco Chanel's former yacht (which he later sank in a storm while high on Quaaludes), a Long Island mansion once owned by former NYSE Chairman and CEO Richard Grasso, and drugs. ( Read more: 2014-The year of the CEO in handcuffs?)ДЄ constant turnover in clients kept Belfort and his staff swimming in millions. Clients would continue to make money for about six to eight months, before shares almost always collapsed, wiping them out. Belfort owned shares of iffy companies going public and would sell them to clients as prices neared their peaks. Then they were pitched a little known IPO. Their targets were usually well-to-do individuals who were pitched a traditional blue chip stock first, in order to make Stratton Oakmont seem legitimate. Twice a day he'd fire them up to make calls. His fraud worked like this: Belfort gave his brokers-often young people who didn't even need a high school diploma-a pitch speech for clients.

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