From New York Times May 20, 2024
Ivan F. Boesky, the brash financier who came to symbolize Wall Street greed as a central figure of the 1980s insider trading scandals, and who went to prison for his misdeeds, died on Monday at his home in the La Jolla neighborhood of San Diego. He was 87.
His daughter Marianne Boesky said he died in his sleep.
An inspiration for the character Gordon Gekko in Oliver Stone’s movie “Wall Street” and its sequel, Mr. Boesky made a fortune betting on stock tips, often passed to him illegally in exchange for suitcases of cash. His guilty plea to insider trading in November 1986 and his $100 million penalty, a record at the time, sent shock waves through Wall Street and set off a cascade of events that marked the end of a decade of frenzied takeover activity and the celebration of conspicuous wealth.
- As federal investigators closed in on Mr. Boesky, he agreed to cooperate, providing information that led to the downfall of the investment bank Drexel Burnham Lambert and its junk bond king, Michael Milken…. read the rest in the NY Times here