Ivan Boesky by Mya Otero Roman

Ivan Boesky

myaoteroroman1_1 — 2024-04-08 07:57:10 UTC

Ivan Boesky is an American stock trader who became infamous for his scandal in trading during the 1980s.

Type of scandal?

myaoteroroman1_1 — 2024-04-08 08:05:18 UTC

This scandal did not only involve him, but it also involved corporate officers who helped Ivan Boesky by sharing tips about upcoming corporate takeovers.

Sued

myaoteroroman1_1 — 2024-04-08 08:07:48 UTC

In 1987, Ivan Boesky was sued by some of his corporate partners for misleading legal agreements in their partnership. It was later found out that he was making his agreements based on info he received from corporate insiders.

People involved

myaoteroroman1_1 — 2024-04-08 08:08:37 UTC

These corporate insiders were Michael Milken And Drexel Burnham Lambert. Ivan Boesky worked with the SEC and provided information to them. After he became an informant to them, this brought a case against Michael Milken.

Ivan Boesky's company

myaoteroroman1_1 — 2024-04-08 08:11:46 UTC

Ivan Boesky had started his own stock brokerage company in 1975 and made lots of money apparently on corporate takeovers. His company was called "Ivan F. Boesky & Company"

Prison sentence

myaoteroroman1_1 — 2024-04-08 08:14:50 UTC

Ivan Boesky was then convicted of insider trading and sentenced to 3.5 years in prison. He was also fined 100 million.

Aftermath

myaoteroroman1_1 — 2024-04-08 08:16:59 UTC

Ivan Boesky ended up serving only 2 years in prison and was released. Since then, he has been banned from ever working with the securities of the SEC!

What is he doing now?

myaoteroroman1_1 — 2024-04-08 08:19:48 UTC

Ivan Boesky is now 87 years old with 4 kids! He has written many books such as: "Wall Street's best kept money-making secret" and "Arbitrage". He is worth well over 200 million and he dedicated his time to serving people in need.