A central figure of the 1980s insider trading scandals, Ivan Boesky (the financer) died on Monday at the age of 87. He has partly inspired a character named Gordon Gekko in the movie “Wall Street” of 1987. He was genius at taking risk and he was having a business of speculating takeover stocks. His wealth was estimated to be at $280 million.
He used to obtain tips from investment bankers related to deals in the works and used them illegally before they were released to the public, as said by the US Securities and Exchange Commission.
He did a nice work by helping in the investigation to the government for insider trading rings by taping conversations with his business contacts. Boesky’s daughter, Marianne Boesky has confirmed news of his death.