Steve Madden not keen on his portrayal in new film

15/01/2014
The share-buying scheme for which shoe designer Steve Madden served 41 months in prison is one of the subjects of a new film, the Wolf of Wall Street.

It focuses on financier Jordan Belfort, who sold Mr Madden shares in the company which were later sold at their peak in a so-called ‘pump and dump’ scheme.

Mr Madden told film website Page Six that he thought Dustin Hoffman's son Jake, who plays his character, looked “too nerdy”, but that he liked the film in general.

“He [Belfort] ratted me out to save himself, but it was a long time ago, and I try not to live in the past. You’ve got to move on, and I have,” Madden said.

Steve Madden Ltd this week reported that its revenue would be lower than estimated for 2013, after weak trading in the holiday period.

Same-store sales dropped 6.7% in the fourth quarter to $342.6 million.