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Ivan Boesky, notorious trader who served time for insider trading, dead at 87

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Detroit News

Crime,New York

In the 1980s, Ivan Boesky helped prosecutors expose a massive insider trading scandal and bust 'junk bond king' Michael Milken.

Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one of the largest insider trading scandals in the history of Wall Street, has died at the age of 87. A representative at the Marianne Boesky Gallery, owned by Ivan Boesky's daughter, confirmed his death. No other details were given. The son of a Detroit delicatessen owner, Boesky was once considered one of the richest and most influential risk-takers on Wall Street.

and Federated Department Stores, making Milken a hated and feared figure on Wall Street.The financier and philanthropist was indicted on 98 counts, including securities and mail fraud, insider trading, racketeering and making false statements. Prosecutors said Milken and Boesky conspired together to manipulate securities prices, rig transactions and evade taxes and regulatory requirements.

 

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