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Article: SEC FINES WALL STREET BROKER $100M FOR INSIDER TRADING.(Main)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- November 15, 1986
CopyrightCOPYRIGHT 1986 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Martin Crutsinger
The Securities and Exchange Commission, in its toughest move against an alleged ring of Wall Street inside traders, on Friday imposed a record $100 million penalty against Ivan F. Boesky and barred him from working again in the securities industry.
Boesky also agreed to plead guilty to a criminal charge in New York.
The SEC penalty, announced at a news conference by SEC Chairman John Shad, was the largest ever of its kind and was the latest action in the SEC's investigation of what has been described as "the largest insider trading case ever uncovered."
The SEC said Boesky violated securities laws by ...