(FORTUNE Magazine) – + Who could be better at warning business school students about the evils of insider trading than Dennis Levine? The former investment banker, whose 1986 arrest tore the lid off Wall Street's scandal, recently described the personal cost of his transgressions to 90 Columbia University business school students. ''They sat in rapt attention,'' said Professor James Kuhn. ''It really caught them, particularly when he spoke about the impact on his wife and children. He wasn't a newspaper story anymore, he was a real human being.'' Levine, 36, served 18 months for securities fraud. A graduate of New York City's Baruch College, he has apparently expressed an interest in speaking to students at other business schools as well, but he may be a little intimidated after his Columbia debut. During a question-and-answer session after the lecture, according to Kuhn, one student prefaced a question by saying, ''Mr. Levine, I think you're pathetic.''