Word: ivans
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Dates: during 1980-1989
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...Ivan Boesky's first uncomfortable nickname came from his wealthy in-laws, who referred to him as "Ivan the Bum" for his lack of direction. No ring to it, but some truth. The young Boesky had put in stints at three different colleges before finally earning a degree from Detroit College of Law. Later he drifted from job to job, working unhappily as a law clerk and then as an accountant. "My father always considered him a ne'er-do-well," claims his estranged sister-in-law. But once the restless 29-year-old Boesky arrived on Wall Street...
...center of last week's maelstrom was a shadowy figure whom few people had heard of until last week: Ivan Boesky. On Nov. 14 the Securities and Exchange Commission electrified the financial world with news that Boesky, 49, one of America's richest and savviest stock-market speculators, had been caught in an ongoing insider-trading probe. Boesky had agreed to pay $100 million in penalties, return profits and accept eventual banishment from professional stock trading for life for his alleged wrongdoings. He also faces a single, as yet unspecified, criminal charge, which could lead to a five-year prison...
...familiar with the Boesky case probably speaks truly when he observes that "we may well get a whole string of new laws or regulations. Whether they're fundamental changes, however, depends on whether the public will care enough to push for them." In that regard, the widening stain surrounding Ivan Boesky may be serving a perverse kind of service to the integrity of the marketplace. If the shock and dismay engendered by his case are bolstered by further disclosures, popular indignation could guarantee a regulatory shakeup. It may be that further fallout resulting from Boesky's cooperation with the authorities...
...process of striking his settlement with U.S. authorities, the relentless wheeler-dealer who earned the nickname "Ivan the Terrible" talked long and hard to investigators about the stock trades he had made using insider knowledge. He also reportedly allowed regulators to eavesdrop on and tape his telephone conversations as he conducted his business dealings. Last week Boesky's singing began to discomfit some of the biggest names in the corporate-takeover business. Said Pierre Rinfret, head of a Wall Street investment and consulting firm: "This...
Little investor rancor but presumably considerable discomfort was in evidence at a meeting Boesky held on Thursday at the office of his lawyers in downtown Manhattan. In attendance were some of the 43 limited partners who had anted up $221 million in capital for his major arbitrage fund, Ivan F. Boesky & Co. L.P. Boesky's tribulations had cast an unwelcome spotlight on a heterogeneous group of investors who suddenly found themselves unwitting participants in the scandal. The list of partners included several high- profile companies, such as Rapid-American (investment in Boesky: $5 million) and National Can ($6.5 million). Prominent...