[6] Later, he gained recognition with his publication of the Rivkin Report, in which he would advise what stocks to buy and sell, and provide market analysis.
In April 2003, following a long-running investigation by the Australian Securities & Investments Commission (ASIC), Rivkin was found guilty of insider trading, having purchased Qantas shares after being made aware of information in relation to an impending merger of Qantas and Impulse Airlines.
[8] He was charged with using confidential and market-sensitive information, having purchased—on behalf of Rivkin Investments—50,000 Qantas shares on 24 April 2001, just hours after speaking to the executive chairman of Impulse, Gerry McGowan.
Since 1986, Rivkin had been receiving treatment for benign brain tumours,[1] a gangrenous gall bladder, deep vein thrombosis and bipolar disorder.
[11][13] Following Rivkin's death, a global investigation was launched to ascertain the location of funds associated with the deceased businessman's estate.
The high-profile investigation revealed Rivkin had been trading in secret through complex offshore dealings, despite being banned, and led to the Australian Taxation Office (ATO) claiming A$18 million in unpaid taxes and penalties.
This forced the executors of the estate to declare it bankrupt, and a lengthy international effort to recover the proceeds of Rivkin's illegal trading ensued.
An amount of $A11 million that was held in Swiss bank accounts remains outstanding upon the closure of the investigation in April 2013.