Former State Rep. & Senator Sued for Insider Trading, Settles Civil Action Same Day

Bill Marovitz and I served in the Illinois House of Representatives during the 1970’s.

Later, he moved onto the State Senate.

Then he married Christie Hefner, President of Playboy Enterprises.

Now, he’s known as Hefner’s husband.

Indeed, the first Chicago Tribune story announcing the U.S. Securities and Exchange Commission sued Marovitz for insider trading in Playboy stock did not mention his political background.

The period for which the indictment covers runs from 2004-9.

Marovitz reacted quickly, according to an early afternoon Tribune report. He settled the civil suit.

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In the first version of this article, I did not read the Tribune article closely enough.  I wrote that this was a criminal matter, instead of a civil case.  The headline said that Bill was arrested, which was incorrect.  I apologize for disseminating the incorrect information.

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