Word: kimba
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Tattle when you're a third-grader, and you'll get a stern parental reprimand. Tattle when you're an imprisoned junk-bond trader, and you'll get time off. That's the lesson celebrity financier and felon Michael Milken was taught by Federal Judge Kimba Wood, who reduced his prison sentence by one year for cooperatively testifying against former colleagues. For the past 17 months, Milken has been a model inmate at a minimum-security California prison. He can expect to return home to his family next March...
After a year of seemingly endless legal trauma for Drexel Burnham Lambert and Michael Milken, each got unexpectedly favorable news last week. Federal Judge Kimba Wood recommended that the former junk-bond king be eligible for parole after serving only 36 to 40 months of the 10-year sentence she imposed on him for securities violations. Wood based her decision on the financial damage done to investors and companies as a result of Milken's confessed misdeeds, which she calculated to be $318,000, less than a day's pay during Milken's highest-flying years and far less than...
...sobs that shook Michael Milken in Manhattan federal court last week punctuated the most dizzying fall from power in modern Wall Street history. They came as federal Judge Kimba Wood sentenced the financial wizard, whose junk bonds fueled the epic 1980s takeover wars, to 10 years in prison. Said the tearful felon: "What I did violated not just the law but all of my principles and values, and I will regret it for the rest of my life. I am truly sorry...
...king Michael Milken copped a plea last April, he disappointed everyone who had been hoping to see the white-collar trial of the decade. Now Milken is having his day in court, but it will be a quick one. In an unusual proceeding that began last week, federal Judge Kimba Wood will hear evidence about some of the 92 charges Milken did not admit when he pleaded guilty to six felony counts of securities fraud and other crimes. Prosecutors hope to offset the efforts of Milken's lawyers to cite his philanthropic activities as grounds for a lenient sentence. Milken...
...guilty to six of the 98 counts of securities fraud and other crimes leveled against him, he was ordered to pay $200 million in fines and $400 million in restitution. Scores of Milken's friends -- and a smattering of his foes -- have deluged New York Federal District Court Judge Kimba Wood with more than 200 letters that aim to sway her decision about his prison term. While such lobbying is common in white-collar proceedings, Milken's case has attracted letters from a dazzling potpourri of the rich and famous...