Levine, Dennis (1952–)

INVESTMENT BANKER Dennis Levine's rise from working-class Queens (New York City) boy to multimillionaire seemed to justify the 1980s ethos of greed—until he was arrested for insider trading. On May 12, 1986, Levine fled Department of Justice (DOJ) officials who were waiting outside his office at Drexel Burnham Lambert.

In his autobiography, Levine remembers himself as an innocent young banker tempted into insider trading by colleague Robert Wilkis in his first job at Citibank. Investigative reporter Douglas Frantz argues that it was Levine who introduced Wilkis to insider trading after Levine had moved to Smith Barney and Wilkis to Lazard Frères. Levine envisioned creating a ring of sources at major investment houses, all pooling confidential information to make profitable trades ahead of the market. Meanwhile, his ...