Ivan Boesky
 Ivan Boesky        | ||||||||
|---|---|---|---|---|---|---|---|---|
 | ||||||||
| Born | Ivan Frederick Boesky March 6, 1937 Detroit, Michigan | |||||||
| Alma mater | Michigan State University College of Law | |||||||
| Spouse | Seema Silberstein | |||||||
| ||||||||
Ivan Boesky is a former American stock trader best known for his prominent role in an insider trading scandal that occurred in the mid-1980s. He coined the phrase "Greed is Good" in a speech at the 1986 graduation of the Berkley Business School. [1]
Federal prosecutors investigated Boesky in May of 1986 for his role in the sale of the Beverly Hills Hotel and for purchasing insider information from Dennis Levine of Drexel Burnham. Boesky cooperated with federal authorities in a wiretapping scheme and was ordered to pay a $100 million fine.
Before his charges were announced, he was allowed to sell an estimated $1.6 billion in stocks and repay debts. [2] He is reputed to have been the highest paid person on Wall St. at the time of his indictment. [3]
