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Stratton Oakmont Memories Resurrected in New Scam

  • Nine accused of helping push 'worthless' LED company stock
  • U.S. says company was touted during Fox Business appearance
Corrected

Another former Stratton Oakmont Inc. broker has been accused of a scam -- this time with investors duped out of $131 million by buying stock in a worthless LED lighting distributor.

It may seem like a repeat of an old story involving the Long Island boiler room where brokers got rich on empty promises. The firm was made famous in the film “Wolf of Wall Street,” with Leonardo DiCaprio playing Stratton Oakmont founder Jordan Belfort. But the pump-and-dump made famous by Belfort didn’t go away.