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Ivan Boesky, Convicted of Insider Trading in 1980s, Dies at 87
By
Greg Farrell
News May 22, 2024 at 01:04 PM
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What You Need To Know
- As junk bonds fueled a wave of hostile acquisitions, Boesky became the archetype of the savvy speculator, reaping hundreds of millions of dollars in profits on takeover bets.
- He was believed to have been the model for the character of Gordon Gekko, the rapacious villain played by Michael Douglas in the 1987 film Wall Street.
- He was sentenced to three years in prison for insider trading, but was released after serving about two years.
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