A Raider's Days Of Reckoning

Just when corporate raider Paul Bilzerian seems to have hit rock bottom, his fall from grace goes even farther. Last month Bilzerian, 39, was convicted by a Manhattan jury on nine counts of securities fraud, which carry a potential 45-year prison sentence and $2.25 million in fines. Then last week the Securities and Exchange Commission filed a civil lawsuit accusing him of illegal stock transactions involving seven companies, including his 1988 takeover of Singer. The charges range from lying to the SEC about how he financed his raids to trying to hide the number of shares he owned. In its suit,...