"I'm getting a lot of calls from investors who are duped and getting scammed by-penny stock operators," Jacob Zamansky, attorney with his firm Zamansky LLC, told CNBC.
Penny stocksAlthough there is nothing inherently wrong with low-priced stocks, they are considered speculative, high-risk investments because they experience higher volatility and lower liquidity.
"He really was a character as Leonardo DiCaprio portrays him in the movie," Zamansky told CNBC.
And he said, If I can sell steaks, I can sell stocks."
Before Zamansky started representing investors who were abused by Wall Street firms, he was an attorney for Stratton Oakmont.
Persons:
I'm, Jacob Zamansky, Andres Vinelli, Greg Ruppert, Jordan Belfort, Stratton Oakmont, Leonardo DiCaprio, Zamansky, he's, Belfort
Organizations:
CNBC, Financial Industry, Authority, CFA Institute, Wall Street, Innocent, SEC, Securities and Exchange Commission
Locations:
That's, Belfort