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Video Phantom 25th anniversary show Jean Paul Gaultier abandons tradition Afghans rock out for the first time in 30 years Follow Reuters Facebook Twitter RSS YouTube Read Italian appeal court clears Amanda Knox of murder | 3:00am EDT China warns of trade war if U.S. currency bill passes | 1:00am EDT Apple to showcase new iPhone after 15-month hiatus | 12:08am EDT World stocks tumble on Greek, banking fears | 3:37am EDT 'Arrested Development' Revival Gets Looks From Showtime, Netflix, IFC 03 Oct 2011 Discussed 345 Exclusive: Democrats push tax hikes first in deficit talks 220 About 400 arrested in Wall Street protest 79 BofA to introduce $5 monthly debit card fee Watched AlphaDog - an old dog with new tricks Mon, Oct 3 2011 iPhone 5: What to expect Mon, Oct 3 2011 Japanese airline, ANA, apologises for plane flip Fri, Sep 30 2011 "Wolf of Wall Street" says his story offers lesson Tweet Share this Email Print Related News UBS trader charged with $2 billion fraud Fri, Sep 16 2011 Polanski to collect award two years after arrest Fri, Sep 16 2011 UBS $2 billion rogue trade suspect held in London Thu, Sep 15 2011 Rogue trade suspect's family "heartbroken" Thu, Sep 15 2011 Irish actor Fassbender tipped for Venice glory Tue, Sep 6 2011 Analysis & Opinion Latin America rejects old U.S. approach in drugs war Force: If only muscles could act Related Topics Entertainment » Fashion » Film » Lifestyle » Jordan » By Cathy Yang HONG KONG | Tue Oct 4, 2011 2:32am EDT HONG KONG (Reuters) - Jordan Belfort, a former trader who ended up in jail in the 1990s for defrauding investors out of millions of dollars, is now an author and motivational speaker, with a movie about him starring Leonardo DiCaprio set to start filming soon. Yet even with his memoir "The Wolf of Wall Street" gaining fresh attention after Kweku Adoboli was arrested last month for alleged rogue trading that may have cost Swiss banking giant UBS $2.3 billion, Belfort maintains his life should, above all else, be taken as a cautionary tale. "The best lesson of everything about my story ... is that it sort of represents the best of what you can do with the gifts that gods give you and also the worst you can do also with the frailties that gods give you," the 49-year-old Belfort told Reuters. Arrested after defrauding investors of as much as $200 million via his brokerage firm Stratton Oakmont, Belfort lived a hard-partying lifestyle in the 90s, accompanied by serious drug addiction, before his arrest and 22 months in a federal prison camp. "Am I proud of that now? A father of two, who lives my life in an honest, ethical way -- no, I'm not proud of that. But I wrote the truth of what happened and how my life spiraled out of control," he said in an interview in Hong Kong, ahead of a speaking tour. "I came from a poor family, (was) making $50 million a year by 25 years old. I started playing out every adolescent fantasy I had and I got hooked on drugs, made some bad decisions, and I paid the price for that - went to jail." His 2007 memoir chronicled a lifestyle that included signing off on a midget tossing event and taking turns having sex with a female subordinate, along with lurid, drug-induced scenes that sparked the interest of Hollywood. "Now if you want to read the book and say that's really cool, he went out and partied like a rock star and you want to emulate that, yes, then you're probably going to end up where I did -- in jail," Belfort said. The interest from Hollywood was so great that, Belfort said, the manuscript of his story sparked interest from both Brad Pitt and DiCaprio, setting off a bidding war that culminated in Martin Scorsese coming aboard to direct. The film will go into production in the next few months and be shot in New York and Switzerland. Belfort said he hoped the film would show how one ethical lapse could lead to another until everything blew up, a lesson he hoped could prevent further losses for financial institutions around the world. "It doesn't happen overnight, you don't lose your soul or you don't become corrupt. Like the first time, it's the tiny, imperceptible step," he said. "Next time, further still and further still ... and before you know it, through these tiny, almost imperceptible steps you are doing things you never thought you'd do, it all seems perfectly okay." (Additional reporting by Andy Ho and Sally Chan; Editing by Elaine Lies and Idayu Suparto) Entertainment Fashion Film Lifestyle Jordan Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) 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