Name Martin Siegel | ||
Born 1948 (age 73) Similar Dennis Levine, Ivan Boesky, Michael Milken | ||
Martin A. Siegel (born 1948) is a former respected investment banker who became embroiled in the insider trading scandals of the 1980s, alongside Ivan Boesky and Michael Milken.
Biography
Born to a Jewish family, Siegel is a graduate of Harvard Business School. In 1971, he joined Kidder, Peabody & Co. and during his 15 years at the firm became known as a takeover specialist. In February 1986 he left Kidder and became a managing director at Drexel Burnham Lambert.
On February 13, 1987, Siegel pleaded guilty to one count of conspiracy to violate the securities laws and one count of tax evasion. His guilty plea included an agreement to pay over US$9 million in civil penalties. He eventually received a sentence of two months imprisonment and five years probation. The light sentence being due to his cooperation with other government investigations. His involvement in criminal activities is recounted in the book Den of Thieves by Pulitzer Prize winning author James B. Stewart.