The arraignment took just 15 minutes, and then the defendant ducked out of the downtown Manhattan courthouse and sped away in a black luxury limousine. Former Arbitrager Ivan Boesky, looking gaunt and subdued, pleaded guilty before a federal judge to one count of violating federal securities laws. Boesky, 50, who is the leading man in Wall Street's biggest stock-market scandal, remains free until his sentencing in August. The Detroit-born son of a delicatessen owner, who amassed an estimated fortune of $200 million through his dealings, and who still lives on a 200-acre New Castle, N.Y., estate, faces a maximum of five...
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