According to the film, his life involved frequently soliciting the services of a prostitutes and becoming addicted to Quaaludes and cocaine during his years as a stock swindler. The FBI prosecuted Belfort in for securities fraud and money laundering. Eventually, Belfort became addicted to Quaaludes and cocaine.
Like cocaine, Quaaludes are highly addictive with little or no accepted medical use. They are illegal to possess, use, distribute and manufacture. Simple possession of a controlled substance is typically prosecuted as a state crime. Fortunately, you may be able to avoid serving jail time by participating in a California drug diversion program, including:. Crossing state lines is probably the most common way you can be federally prosecuted for unlawful drug possession.
Federal law distinguishes between possession of a controlled substance for personal use simple possession and drug trafficking. Simple possession is punishable under federal law as follows:. Prostitution, like drug possession, is usually prosecuted as a state offense, unless the crime involves crossing state lines or foreign travel. Your minimum sentence would increase depending on the number of times you are convicted of a prostitution crime. However, this devastating consequence is not a mandatory requirement of a prostitution conviction provided that no one under the age of 18 was involved.
Securities fraud covers a broad range of illegal activities, all of which involve investor deception or the manipulation of financial markets. Examples of securities fraud include Ponzi or pyramid schemes, investment schemes, broker embezzlement and foreign currency fraud. Securities fraud under federal law is a felony. Money laundering is the practice of making proceeds from a crime appear to have been legitimately earned.
You can be federally prosecuted for money laundering whenever you:. Our team of skilled and knowledgeable attorneys has over 30 years of experience employing the most effective strategies to successfully defend our clients facing severe sentences and heavy fines.
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