‘It’s heartbreaking to me': Former friend of the ‘Wolf of Wall Street’ discovered to be living on the streets of New York and sleeping on pizza boxes 

  • William 'Preston' King, 52, was discovered living on the streets in New York
  • He was photographed by a campaign to expose city's homeless problem 
  • His younger sister spotted the police campaign's photo and identified him 
  • King previously worked at Merrill Lynch and Oppenheimer & Co 

By Imogen Calderwood For Mailonline

Published: 04:12 EST, 11 August 2015 | Updated: 14:57 EST, 11 August 2015

A campaign to reveal the extent of the homeless problem in New York City has revealed the surprising past life of one man currently living on the streets.

William ‘Preston’ King, 52, was photographed sleeping on a pile of pizza boxes on a Greenwich Village sidewalk.

He was photographed as part of a campaign launched this week by the Sergeants Benevolent Association (SBA), hoping to shame City Hall into taking action against the homeless problem.

Downward spiral: A photograph taken of William 'Preston' King by the SBA campaign was identified by his sister, who came forward to reveal his identity as a former Wall Street high-flyer

Downward spiral: A photograph taken of William 'Preston' King by the SBA campaign was identified by his sister, who came forward to reveal his identity as a former Wall Street high-flyer

A friend says that King knew 'Wolf of Wall Street' Jordan Belfort (pictured) and told him about working back in that era 

A friend says that King (left) knew 'Wolf of Wall Street' Jordan Belfort (pictured) and told him about working back in that era 

But after spotting his photograph, King’s sister has come forward and identified him as an ex-New York stockbroker, and a former friend of the ‘Wolf of Wall Street’ himself, Jordan Belfort.

Living a life of luxury, driving a BMW and living in a Soho loft, King held powerful roles within Merrill Lynch and Oppenheimer & Co, reports the New York Post.

He lived the life expected of a Wall Street worker -  partying hard and working harder.

But the drugs, the alcohol and the unsustainable lifestyle took their toll, launching King into a downward spiral that would last three decades and end with life on the streets.

His younger sister, Kristine King, last had contact with her worrisome brother in January, after King’s abuse of prescription drug Adderall led to an incident at her house. 

Past life: King, who is now sleeping rough on the streets of New York, previously help powerful positions at Merrill Lynch and Oppenheimer & Co, and was a friend of Jordan Belfort, the real life 'Wolf of Wall Street'

Past life: King, who is now sleeping rough on the streets of New York, previously help powerful positions at Merrill Lynch and Oppenheimer & Co, and was a friend of Jordan Belfort, the real life 'Wolf of Wall Street'

King was living with her at the time, but would constantly steal from her and make her life impossible.

‘I screamed at him about taking the money and told him to write me a letter and apologize when he comes clean, and we’ll talk,’ Kristine, 45, told the New York Post.

‘That was the last time we spoke.’

The last the family heard of Preston, was getting detoxed at Arms Acres in Putnam County.

The siblings grew up on Long Island, where their father and grandfather were horse trainers.

Despite dropping out of school and New York University, King proved himself to be incredibly intelligent.

He was placed in the top 2 per cent of the infamous Series 7 stockbroker exam and taught himself five languages, reported the Post.

Living a life of luxury, driving a BMW and living in a Soho loft, King held powerful roles within Merrill Lynch and Oppenheimer & Co

Living a life of luxury, driving a BMW and living in a Soho loft, King held powerful roles within Merrill Lynch and Oppenheimer & Co

‘Where he was then, and where he is now, sleeping on cardboard boxes, it’s unthinkable to me and heartbreaking,’ Kristine added.

The SBA sent an email to its 5,000 members this week, calling upon the officers to ‘utilize your smartphones’ and upload to photos to the SFA Flickr page. 

The SBA President Ed Mullins urged the members to take photos commuting to and from work, as officers are not allowed to take photographs of members of the public while on duty.

Kristine is now desperately trying to trace King with the help of the SBA, comprised of an estimated 12,000 active and retired sergeants of the NYPD.

They are scouring the streets and handing out fliers, trying to find anyone who recognises him. 

THE MARIJUANA SUBSTITUTE PUTTING NEW YORK'S HOMELESS AT RISK

New York has witnessed an alarming increase in the consumption - mainly by homeless men - of the leafy substance known as 'K2.'

The cheap knock-off weed is spiked with unknown chemicals that are supposed to mimic the more mellow effects of pot, but often comes with harsh side effects.

'When people talk about synthetic marijuana, it's kind of bad misnomer because we don't know what these chemicals are,' said Robert Messner, a police official in charge of civil enforcement.

In recent months, there's been a spike in emergency room visits in New York City by users suffering from high blood pressure, hallucinations, hot flashes and psychotic meltdowns that can turn violent or deadly. 

On July 24, five patients at a psychiatric facility on Wards Island off of Manhattan were rushed to the hospital after smoking synthetic marijuana.

Less than a week later, a man in the West Village jumped into the Hudson River and drowned. A friend told police the victim was high on K2.

New York City health officials issued warnings in April after synthetic marijuana sent 160 people to hospitals in a little over a week.

Statewide, there have been more than 1,900 emergency department visits from April through June alone, prompting Gov. Andrew Cuomo to call for tighter regulations on an existing list of banned substances to include new chemical compounds. 

An internal NYPD memo issued last month warned officers that some people strip off their clothes, become impervious to pain and go berserk if confronted, and advised to call for backup and use a Taser if necessary to get them off the street. 

In 2013, Washington DC launched a zombie-themed website - K2ZombieDC.com - to warn teenagers of its dangers. 

 

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