Ivan Boesky, notorious trader who served time for insider trading, dead at 87

Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one of the largest insider trading scandals in the history of Wall Street, has died at the age of 87.

A representative at the Marianne Boesky Gallery, owned by Ivan Boesky's daughter, confirmed his death. No other details were given.

The son of a Detroit delicatessen owner, Boesky was once considered one of the richest and most influential risk-takers on Wall Street. He had parlayed $700,000 from his late mother-in-law's estate into a fortune estimated at more than $200 million, hurtling him into the ranks of Forbes magazine's list of the 400 richest Americans.