While Playboy is known for all things provocative, illegality is another matter. Now the men's magazine can thank Bill Marovitz, husband of former Playboy CEO Christie Hefner – daughter of Hugh – for changing that. Marovitz stands accused of using information his wife gave him to trade shares -- a crime known as insider trading. Fortune reports that the SEC has opened a suit against Marovitz and posted the complaint. The basis for the suit reads: Despite instructions from his wife that he should not trade in shares of Playboy and a warning from...
- 8/3/2011
- by Lucas Shaw
- The Wrap
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