Word: frauds
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Dates: during 1990-1999
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...these offenses." With those contrite but carefully crafted words, | deposed junk-bond king Michael Milken, 43, began a tearful confession before a federal judge in Manhattan last week. The man whose deals revolutionized Wall Street and convulsed corporate America read a 15-min. statement detailing his role in securities fraud that involved recently paroled speculator Ivan Boesky and investment banker Dennis Levine. "My plea is an acceptance of personal responsibility for my own failings and actions," the once defiant Milken said in closing, weeping audibly. "I am truly sorry...
...settlement raised an issue that will be debated for years to come: Is Milken getting off light? Of 98 counts originally filed against him, the financier pleaded guilty to just six, including conspiracy and mail fraud. He will pay fines of $600 million, the most ever assessed against an individual, and he faces a potential 28 years behind bars. But in the settlement, prosecutors dropped their most serious charges, including insider trading and racketeering, which carried a potential prison sentence of more than 500 years. Moreover, with a personal fortune estimated to be in excess of $1 billion, Milken...
...despite rising public resentment, Congress was unwilling to change it until Charles Keating came along. He is the former savings and loan chairman who doled out $1.4 million to the so-called Keating Five -- four Democrats and a Republican who ran interference for him with federal regulators investigating his fraud- ridden thrift. When asked if his money had bought the Senators' services, Keating replied, "I certainly hope so." Says Common Cause President Fred Wertheimer: "Keating has confirmed the public's worst fears...
...plea bargain capped months of rumors that the Government was ready to expand an indictment already laden with charges of racketeering, securities fraud and insider trading. Prosecutors had given Milken until last Friday to settle the case or face the new charges. Under terms of the agreement, Milken is to plead guilty only to securities-fraud violations, which carry lesser prison sentences than his earlier charges...
...this enough to rewrite history? Was Einstein a fraud or just a lousy husband? Would that we could decide. Consider the psychohistorical fun scholars could have with the implications that a woman discovered relativity -- does it have anything to do with the traditional female emphasis on relationships and distrust of male absolutes? The Einstein experts are unconvinced. At worst, they say, Einstein was a lousy husband. The fact is that we will never know; Albert and Mileva have fallen into some Pynchonesque black hole of history that claims the dead. The longer we think about them, the more uncertain everything...