The book explored his meteoric rise and explosive crash in the financial world. In 2008, Belfort published his memoir, The Wolf of Wall Street, using one of his nicknames as the title. Comedian Tommy Chong, one of Belfort's cellmates during this time, encouraged the former stockbroker to write about his experiences. He served 22 months in jail, where he developed an interest in writing. In 2003, Belfort was sentenced to four years in prison and personally fined $110 million. He cooperated with authorities in an effort to shorten his prison sentence. In 1999, Belfort pleaded guilty to securities fraud and money laundering. The National Association of Securities Dealers ejected Stratton Oakmont from its association in 1996, and the company was ordered to be liquidated to pay off its numerous fines and settlements the following year. More legal woes followed for Belfort and his company.
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