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Ivan Boesky amassed a fortune of over $200 million in the 1980s before an insider trading scandal landed him with a $100 million fine and prison time.
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Born in Detroit in 1937, Ivan Boesky studied law before becoming a successful financier and amassing a fortune worth over $200 million dollars. His involvement in a 1986 insider trading scandal, however, ruined his reputation and landed him with a $100 million dollar fine and a prison sentence. The character Gordon Gekko in Wall Street (1987) is rumored to be partially based on Boesky.
I think greed is healthy. You can be greedy and still feel good about yourself.
Financier, born in Detroit, Michigan. The son of a Russian immigrant, he studied law and worked as a tax accountant before moving into securities analysis, forming his own firm in 1975. Boesky was credited with (or blamed for) pioneering the junk bond market, later a symbol of the excesses of the 1980s. He had become one of Wall Street's most successful arbitrageurs when he admitted to insider trading charges in 1986. Fined $100 million, he served time in prison before being given parole for good behavior in 1990.
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Despite their high economic standing, these white collar criminals, arrested for a variety of crimes, proved not to be above the law. View Biography.com's White Collar Criminals group for more on Charles Ponzi, Raj Rajaratnam, Bernard Ebbers, Jeffrey Skilling, Kenneth Lay, Ivan Boesky, Bernard Madoff and many more.
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