March 27, 1991 |
A federal judge Tuesday approved a $46.8-million settlement of lawsuits against Ivan F. Boesky to repay investors who were cheated by the fallen speculator's securities fraud. The money probably will be spread among thousands of investors with claims against Boesky, who was at the center of Wall Street's most sensational insider trading scandal.
June 29, 1990 |
Former stock speculator Ivan F. Boesky, a key government witness in the securities fraud trial of his former close friend John A. Mulheren Jr., was branded a liar and blasted as a "pile of human garbage" by Mulheren's lawyer Thursday. "His testimony can only be described as a sick joke," said attorney Thomas Puccio, noting that Boesky has admitted that he lied to government officials on numerous occasions. "People who lie and lie and lie . . .
November 12, 1987 |
Disgraced speculator Ivan F. Boesky will likely go to jail for his criminal conviction, the chairman of the Securities and Exchange Commission said Wednesday. David S. Ruder said that although Boesky had not been sentenced yet, "I would be very surprised if he didn't go to jail. After all, Boesky was extremely bad; that's putting it mildly."
March 30, 1989
The federal grand jury indictment against Michael Milken, Lowell Milken and Bruce L. Newberg accuses the defendants of three groups of racketeering law violations. A summary of the allegations follows (Except where indicated, Michael Milken allegedly acted without his two co-defendants.): Actions Involving Ivan F. Boesky Fischbach Corp.
January 9, 1990 |
Ivan F. Boesky's main arbitrage fund has been liquidated and $248 million distributed to its limited partners to settle one of many claims against the former Wall Street speculator, attorneys said Monday. In addition, some lawsuits against the partnership, CX Partners LP, have been settled and others placed on hold in Manhattan federal court, where more than two dozen class-action lawsuits against Boesky and affiliated entities await resolution.
July 27, 1988 |
Federal prosecutors Tuesday agreed to a 48-hour delay in filing an indictment against John A. Mulheren Jr., the former manager of an investment partnership who was arrested in February for allegedly planning to kill financier Ivan F. Boesky. U.S. Atty. Rudolph W. Giuliani's office declined to comment on the reasons for the delay or the specific charges in the indictment. But Mulheren's lawyer, Thomas P. Puccio, said the delay was granted to allow for last-minute talks with the prosecutors.
June 18, 1991 |
The Supreme Court on Monday refused to block a $1.6-billion lawsuit against brokerage Kidder, Peabody & Co. over insider information allegedly given to convicted Wall Street figure Ivan F. Boesky. In other actions, the court: * Agreed to consider killing an antitrust lawsuit against Eastman Kodak Co. by companies that repair Kodak equipment. * Refused to squelch a Florida city's plan to operate a cable TV system in competition with a cable company.
April 22, 1988 |
The head of Drexel Burnham Lambert Inc.'s "junk bond" business, which has come under scrutiny in the Wall Street insider trading scandal, was subpoenaed Thursday to testify before a congressional panel next week, sources said. Michael R. Milken was subpoenaed to testify April 27 before the House Energy and Commerce Committee's subcommittee on oversight and investigations, said the sources, who spoke on condition of anonymity.
August 7, 1990 |
Two Los Angeles brokerage executives who cooperated with prosecutors in securities cases stemming from the Ivan F. Boesky insider trading scandals, settled administrative charges with federal regulators Monday. James T. Melton, who testified for the government at the GAF Corp. stock manipulation trial, and Michael Z. Landy, a government witness against takeover strategist Paul Bilzerian, settled actions brought by the Securities and Exchange Commission.
March 24, 1988 |
Stock speculator and insider trader Ivan F. Boesky on Wednesday entered the federal penitentiary in Lompoc, Calif., to begin serving his three-year term for breaking federal securities laws. Jim Finley, acting assistant camp superintendent at Lompoc, which is about 150 miles north of Los Angeles, was quoted by United Press International as saying that Boesky "signed in at about 4:10 p.m. Right now, he's in the waiting room. But soon he'll be assigned a bed and a place to sleep."