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Ivan F. Boesky
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. He was charged and pled guilty to insider trading, was fined a record $100 million, served three years in prison and became an informant. Early life and education Boesky was born to a Jewish familyHaaratz: "This Day in Jewish History / A masterful Wall Street con man is arrested - Ivan Boesky elevated insider trading to an art form. The police didn't see it that way, though." by David B. Green November 14, 2013 [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
In economics and finance, arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judaism
Judaism ( he, ''Yahăḏūṯ'') is an Abrahamic, monotheistic, and ethnic religion comprising the collective religious, cultural, and legal tradition and civilization of the Jewish people. It has its roots as an organized religion in the Middle East during the Bronze Age. Modern Judaism evolved from Yahwism, the religion of ancient Israel and Judah, by the late 6th century BCE, and is thus considered to be one of the oldest monotheistic religions. Judaism is considered by religious Jews to be the expression of the covenant that God established with the Israelites, their ancestors. It encompasses a wide body of texts, practices, theological positions, and forms of organization. The Torah, as it is commonly understood by Jews, is part of the larger text known as the ''Tanakh''. The ''Tanakh'' is also known to secular scholars of religion as the Hebrew Bible, and to Christians as the " Old Testament". The Torah's supplemental oral tradition is represented by later texts s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guinness Share-trading Fraud
The Guinness share-trading fraud was a major business scandal of the 1980s. It involved the manipulation of the London stock market to inflate the price of Guinness shares to thereby assist Guinness's £4 billion takeover bid for the Scottish drinks company Distillers. Four businessmen were convicted of criminal offences for taking part in the manipulation. The scandal was discovered in testimony given by the US stock trader Ivan Boesky as part of a plea bargain. Ernest Saunders, Gerald Ronson, Jack Lyons and Anthony Parnes, the so-called Guinness four, were charged, paid large fines and, with the exception of Lyons, who was suffering from ill health, served prison sentences. The case was brought by the Serious Fraud Office. Crime The defendants bought shares in Guinness plc to enable Guinness (by supporting its share price) to take over Distillers, a much larger company. The Distillers board favoured Guinness as partners and were facing a hostile bid by Argyll. The Guinness ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vandenberg Air Force Base
Vandenberg may refer to: * Vandenberg (surname), including a list of people with the name * USS General Harry Taylor (AP-145), USNS ''General Hoyt S. Vandenberg'' (T-AGM-10), transport ship in the United States Navy, sank as an artificial reef in Key West, Florida * Vandenberg Space Force Base, a United States military installation with a spaceport * Vandenberg (band), a Dutch hard rock band ** Vandenberg (album), ''Vandenberg'' (album), their 1982 debut album * Vandenberg resolution, a United States Congress resolution passed in 1948 {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Correctional Institution, Lompoc
The Federal Correctional Institution, Lompoc (FCI Lompoc) is a low-security United States federal prison for male inmates in Lompoc, California. It is part of the Lompoc Federal Correctional Complex (FCC Lompoc) and is operated by the Federal Bureau of Prisons, a division of the United States Department of Justice. FCC Lompoc is located within the city of Lompoc, northwest of Los Angeles, adjacent to Vandenberg Space Force Base. The complex also includes a U.S. Penitentiary and a minimum-security prison camp. Facility The average offender at FCI Lompoc is serving between one and fifteen years for federal drug and or other non-violent offenses. It has four general housing units, two of which offer dormitory and room-type housing. The institution offers a full range of inmate employment, vocational training, education, counseling (both mental health and drug abuse), medical, dental, pre-release preparation, and other self-improvement opportunities. Notable incidents 1980 escape ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security (finance)
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equities and Fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic ( dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they entitle the holder to rights only if they appear on a secur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fine (penalty)
A fine or mulct (the latter synonym typically used in civil law) is a penalty of money that a court of law or other authority decides has to be paid as punishment for a crime or other offense. The amount of a fine can be determined case by case, but it is often announced in advance. The most usual use of the term is for financial punishments for the commission of crimes, especially minor crimes, or as the settlement of a claim. One common example of a fine is money paid for violations of traffic laws. Currently in English common law, relatively small fines are used either in place of or alongside community service orders for low-level criminal offences. Larger fines are also given independently or alongside shorter prison sentences when the judge or magistrate considers a considerable amount of retribution is necessary, but there is unlikely to be significant danger to the public. For instance, fraud is often punished by very large fines since fraudsters are typically ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sentence (law)
In law, a sentence is the punishment for a crime ordered by a trial court after conviction in a criminal procedure, normally at the conclusion of a trial. A sentence may consist of imprisonment, a fine, or other sanctions. Sentences for multiple crimes may be a concurrent sentence, where sentences of imprisonment are all served together at the same time, or a consecutive sentence, in which the period of imprisonment is the sum of all sentences served one after the other. Additional sentences include intermediate, which allows an inmate to be free for about 8 hours a day for work purposes; determinate, which is fixed on a number of days, months, or years; and indeterminate or bifurcated, which mandates the minimum period be served in an institutional setting such as a prison followed by street time period of parole, supervised release or probation until the total sentence is completed. If a sentence is reduced to a less harsh punishment, then the sentence is said to have been mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prison
A prison, also known as a jail, gaol (dated, standard English, Australian, and historically in Canada), penitentiary (American English and Canadian English), detention center (or detention centre outside the US), correction center, correctional facility, lock-up, hoosegow or remand center, is a facility in which inmates (or prisoners) are confined against their will and usually denied a variety of freedoms under the authority of the state as punishment for various crimes. Prisons are most commonly used within a criminal justice system: people charged with crimes may be imprisoned until their trial; those pleading or being found guilty of crimes at trial may be sentenced to a specified period of imprisonment. In simplest terms, a prison can also be described as a building in which people are legally held as a punishment for a crime they have committed. Prisons can also be used as a tool of political repression by authoritarian regimes. Their perceived opponents may be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Plea Bargain
A plea bargain (also plea agreement or plea deal) is an agreement in criminal law proceedings, whereby the prosecutor provides a concession to the defendant in exchange for a plea of guilt or '' nolo contendere.'' This may mean that the defendant will plead guilty to a less serious charge, or to one of the several charges, in return for the dismissal of other charges; or it may mean that the defendant will plead guilty to the original criminal charge in return for a more lenient sentence. A plea bargain allows both parties to avoid a lengthy criminal trial and may allow criminal defendants to avoid the risk of conviction at trial on a more serious charge. For example, in the legal system of the United States, a criminal defendant charged with a felony theft charge, the conviction of which would require imprisonment in state prison, may be offered the opportunity to plead guilty to a misdemeanor theft charge, which may not carry a custodial sentence. In cases such as an automobil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Milken
Michael Robert Milken (born July 4, 1946) is an American financier. He is known for his role in the development of the market for high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony charges for violating U.S. securities laws. Milken's compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S. income at that time. With a net worth of $6 billion as of 2022, he is ranked by ''Forbes'' magazine as the 412th richest person in the world. Milken was indicted for racketeering and securities fraud in 1989 in an insider trading investigation. As the result of a plea bargain, he pleaded guilty to securities and reporting violations but not to racketeering or insider trading. Milken was sentenced to ten years in prison, fined $600 million (although his personal website claims $200 million) and permanently barred from the securities indu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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