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Michael Milken

Michael Robert Milken (born July 4, 1946) is an American business magnate, financier, and philanthropist noted for his role in the development of the market for high-yield bonds (also called "junk bonds") during the 1970s and 1980s, for his 1990 guilty plea to felony charges for violating US securities laws, and for his funding of medical research. Milken was indicted on 98 counts of racketeering and securities fraud in 1989 as the result of an insider trading investigation. After a plea bargain, he pled guilty to six securities and reporting violations but was never convicted of racketeering or insider trading. Milken was sentenced to ten years in prison and permanently barred from the securities industry by the Securities and Exchange Commission. After the presiding judge reduced his sentence for cooperating with testimony against his former colleagues and good behavior, he was released after less than two years. His critics cited him as the epitome of Wall Street greed during the 1980s, and nicknamed him the "Junk Bond King". Supporters, like George Gilder in his book, Telecosm, note that "Milken was a key source of the organizational changes that have impelled economic growth

LATEST STORIES
  
Junk Bond King Michael Milken: 'Memba Him?

Junk Bond King Michael Milken: 'Memba Him?

In the '80s, Michael Milken became the poster boy for Wall Street insider trading after being indicted on 98 counts of racketeering and securities fraud. Guess what he looks like now! READ MORE >

Milken It For All It's Worth

Milken It For All It's Worth

The 64-year-old appeared at an art opening in Los Angeles last month, looking ecstatic.In 1990, Michael pleaded guilty to six violations of securities and tax violations and paid over $1 billion… READ MORE >

- 1402 days ago

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