SECURITIES FRAUD: A Raider's Painful Reward

A Raider's Painful Reward

Florida real estate investor Paul Bilzerian was determined to become a successful corporate raider. In 1985 and 1986 he attempted, and failed, to take over four different companies. In early 1988 the 38-year-old maverick managed to acquire defense contractor Singer by bidding for it when no one else would, right after the stock-market crash. Last week, however, Bilzerian finally made what will probably be his most lasting mark on Wall Street. In the first jury verdict to arise out of the Government's three-year crackdown on insider trading, Bilzerian was convicted on nine counts of securities fraud and tax violations.

The federal...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!