Michael R. Milken
Michael R. Milken testifying before congress
In 1989, Drexel Burnham Lambert junk bond king, Michael Milken was indicted on 98 counts of racketeering and fraud under RICO statutes, by then US attorney, Rudy Giuliani. The charges involved various alleged securities violations. Drexel filed for bankruptcy in February 1990 following the collapse of the junk bond market and was later dissolved. Milken agreed to a plea bargain, admitting to six felonies, was banned for life from the securities industry, sentenced to 10 years in prison and ordered to pay some $900 million in fines and restitution. After only 22 months in prison, Milken was released in January 1993. Milken has attempted to rehabilitate himself by spending much of his time since his prison term heavily involved in philanthropic activities, particularly in financing
Monday, November 19, 2012
Marquet International's White Collar Rogues Gallery
