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Drexel Burnham Lambert Inc. was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken.
- 1935
- 60 Broad Street, New York, New York, United States
- I. W. "Tubby" Burnham
Apr 1, 2015 · Rival bankers, suspicious regulators and prosecutors—including Rudy Giuliani—and the arrest of the decade’s most famous insider trader, Drexel client Ivan Boesky, changed everything.
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Feb 14, 1990 · 1987: Ivan F. Boesky, a leading arbitrageur and Drexel client, pleads guilty to fraud and begins cooperating with the Federal Government, further expanding the insider-trading scandal.
Apr 25, 2024 · Boesky’s cooperation led to an insider trading probe of Milken and his firm, Drexel Burnham Lambert. Both Drexel and Milken later entered guilty pleas to securities-law violations. As a result of his plea agreement and cooperation with the SEC, Boesky received a sentence of three and one-half years in prison, a $100 million fine, and a ...
Ivan Frederick Boesky (born March 6, 1937) is a former American stock trader who became infamous for his prominent role in an insider trading scandal that occurred in the United States during the mid-1980s. [1] . He was charged and pled guilty to insider trading, was fined a record $100 million, served three years in prison and became an informant.
Nov 28, 2020 · Meet Ivan Boesky, the 1980s Wall Street titan who inspired Hollywood — and ended up in jail. Portrait of risk arbitrager Ivan Boesky in his office. In 1985, Ivan Boesky reportedly told the ...
- 8 min
Nov 15, 1986 · Sources said that Boesky was held in such high esteem by Drexel Burnham that the firm helped him raise nearly $ 1 billion last year to invest in future arbitrage deals.
