The 2013 movie “The Wolf Of Wall Street” based on Jordan Belfort’ exotic life swept the world away. Belfort who was a successful but corrupt Wall Str. CEO has an incredibly lavish and controversial lifestyle which the black comedy directed by Martin Scorsese portrays very accurately. The movie shows us the real nature of successful CEO’s and the truth is somewhat uglier than usual.
What is even more disturbing is that the trend of squandering tons of cash on the expense of someone else is just picking up speed.
Recently, another successful 26-year-old CEO named Aaron Thomas was fired for allegedly embezzling over $7 million from his own company. His business is named Oakmont Trading Ltd and is based in London. Thomas was fired from the company he founded and ran as CEO for a few years after his board of directors voted him out. He allegedly spent $171,000 for an engagement ring from Tiffany and used to spent $14,500 per month for a luxurious apartment in Manhattan where he and his Brazilian fiancé lived.
Luckily the board of directors of the mining company noticed the excessive expenditures of their CEO and slapped him with a lawsuit. Thomas on the other hand is planning to counter suit.