New York CNN —Ivan Boesky, the infamous insider trader whose name became synonymous with financial greed and helped inspire the fictional character Gordon Gekko in the 1987 film “Wall Street,” has died.
His daughter, Marianne Boesky, confirmed to CNN on Monday that he died in his sleep.
Nicknamed “Ivan the Terrible” on a 1986 Time Magazine cover, Boesky profited from the corporate takeover boom in the 1980s, using insider information to receive advanced information on pending deals.
He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.
Boesky was barred from securities trading for the rest of his life.
Persons:
Ivan Boesky, Gordon Gekko, ”, Marianne Boesky, Marianne Boesky’s, Boesky, “ Ivan, ” Michael Milken, Milken, Ana
Organizations:
New, New York CNN, CNN, Haas School of Business, University of California, Wall, SEC, SEC Historical Society
Locations:
New York, Berkeley