Danny Porush, a former stockbroker and businessman, gained notoriety for his involvement in fraudulent stock scams during the 1990s. He became widely known as the inspiration behind the character Danny Azov in Martin Scorsese’s 2013 film “The Wolf of Wall Street.” However, it is important to separate fact from fiction and explore the real story behind Danny Porush. This article delves into Porush’s biography, career, net worth, relationships, and legal troubles, shedding light on the man behind the Hollywood portrayal.
Danny Porush Biography:
Born in February 1957 in Lawrence, New York, Daniel Mark Porush grew up in the United States. He attended Boston University and later founded Sure Ride Ambulette Inc. after graduating from Lawrence Woodmere Academy.
Name: Daniel Mark Porush
Profession: Stockbroker and Businessman
Birth Place: Lawrence, New York , US
Date Of Birth: 7 February 1957
Height: 5 feet 9 inches
Net Worth: $12 Million
Last Updated: 2023
Danny Porush’s career began with his involvement in Stratton Oakmont, a firm founded in the 1980s by Jordan Belfort. Porush collaborated with Belfort on various projects, specializing in underwriting Initial Public Offerings (IPOs) and selling penny stocks for small companies. Porush assumed the role of CEO in 1994 after Belfort’s departure.
In 1989, Stratton Oakmont came under scrutiny from the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission (SEC). Investigations revealed the firm’s involvement in fraudulent schemes. Stratton Oakmont was permanently expelled from the NASD in late December 1996.
Porush and Belfort faced federal indictments in 1999, resulting in convictions for money laundering and securities fraud. Belfort served a two-year prison sentence and was ordered to pay $200 million in restitution, while Porush received a four-year prison sentence and a $200 million restitution requirement. Porush’s character was portrayed in the film adaptation of Belfort’s memoir, “The Wolf of Wall Street” (2013).
Following his release from prison in 2004, Porush became associated with Med-Care, a medical organization based in Florida. The company faced allegations of fraud against Congress in April 2013. In 2014, reports emerged linking Porush to Medicare fraud. The following year, a whistleblower lawsuit accused Porush and five other employees of submitting false Medicare claims.
Porush’s net worth has been impacted by these legal troubles and career transitions. Despite his involvement in fraudulent activities, he has pursued business ventures in the medical industry.
In January 1986, Porush married Nancy, his first cousin. They met in New York City, where Porush worked as a bicycle messenger. They became engaged and married within two years. However, their marriage ended in divorce in 2000. During this period, Porush had an affair with Lisa Kraus, who later became his second wife. They tied the knot in 2001 and have four stepchildren in addition to their own children, making Porush the father of eight children.
Danny Porush Net Worth:
As of January 2023, Danny Porush’s estimated net worth is $12 million. His involvement in the medical supplies industry in Florida has contributed to his wealth. However, despite his net worth, Porush’s reputation and financial standing have been tarnished due to his legal issues and involvement in fraudulent activities. The fraud charges filed against Med-Care, the medical organization he was associated with, have had significant implications on his net worth and financial stability.
In May 2014, a fraud charge was filed against Med-Care due to Porush’s alleged involvement. Subsequently, in July of that year, Porush and five other directors of the company were sued for making false medical claims. Although the initial lawsuit was dismissed, it was later re-filed, and in January 2016, the Federal Court ordered an FBI investigation into the matter.
These legal troubles have undoubtedly impacted Porush’s financial situation and may have led to a decline in his net worth. It is important to note that the outcome of these legal proceedings and their subsequent financial implications for Porush are subject to ongoing investigations and legal processes.
Danny Porush’s life and career have been marked by controversy and legal issues. From his involvement in fraudulent stock scams to his portrayal in “The Wolf of Wall Street,” Porush’s story has captivated public attention. Despite a net worth of $12 million, his financial standing has been significantly affected by legal troubles and allegations of fraud.