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John Mulheren
Acquitted on Appeal; Jamie Securities Head Convicted Then Freed in 1980s Insider Trading Scandal
Chairman, Jamie Securities Co.
Overview
John A. Mulheren Jr. was the head of Jamie Securities and a close associate of Ivan Boesky who was convicted of conspiracy and stock manipulation for artificially propping up stock prices at Boesky's direction. His case took a dramatic and bizarre turn when he was arrested while allegedly driving to Boesky's home with a loaded assault rifle, apparently intending to kill the man who had betrayed him to prosecutors. Mulheren's conviction was overturned on appeal by the Second Circuit Court of Appeals in 1991, which found insufficient evidence that his trades were manipulative rather than legitimate market activity. His acquittal on appeal represents another gap in the accountability record of the 1980s scandals.
Key Affiliations
Controversies & Concerns
Convicted of conspiracy and stock manipulation for propping up prices at Boesky's direction
Arrested while allegedly driving to Boesky's home with a loaded assault rifle after being betrayed
Conviction overturned on appeal by Second Circuit in 1991; another accountability failure
Close associate of Ivan Boesky who allegedly participated in manipulative trading schemes
Related Investigations (1)
Criminal Charges & Violations
2 documented violations
15 U.S.C. 78j(b)Securities Fraud: Stock manipulation at Boesky's direction (OVERTURNED ON APPEAL)(Federal)
18 U.S.C. 371Conspiracy: Stock manipulation scheme with Ivan Boesky (OVERTURNED ON APPEAL)(Federal)
Known Associates & Connections
Ivan Boesky
Close associate who directed Mulheren's alleged stock manipulation; later betrayed him to prosecutors
Sources & Documentation
1 documented sources from official records, investigations, and reports
Personal Information
- Born
- October 13, 1949
- Birthplace
- United States
- Also Known As
- John A. Mulheren Jr.
Education
Key Timeline
1986-1988
Allegedly manipulated stock prices at Ivan Boesky's direction through Jamie Securities
1988
Arrested while allegedly driving to Boesky's home with a loaded assault rifle
1990
Convicted of conspiracy and stock manipulation by jury
1991
Second Circuit Court of Appeals overturns conviction; finds insufficient evidence of manipulation
June 18, 2003
Dies at age 53