Word: milken
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...trade task force run by a business associate of Bradley's. The Securities and Exchange Commission, moreover, is looking into the mayor's ! holdings in stocks, real estate and junk bonds; parts of Bradley's portfolio were handled by Drexel Burnham Lambert, whose deposed junk-bond king, Michael Milken, contributed to Bradley's political campaigns...
...employees by about one-third. In a candid statement, Drexel said "adverse publicity" about its legal problems had helped drive it from the retail market. Earlier this month the company settled a Securities and Exchange Commission suit by agreeing to fire its indicted junk-bond czar, Michael Milken, and submit to intense Government supervision...
...probation for three years and requires it to set up an oversight committee. The firm is also naming a new chairman, former SEC head John Shad, to succeed Drexel's Robert Linton. As expected, the deal forces Drexel to cut all ties to its former junk-bond king, Michael Milken, who is facing separate criminal charges of racketeering and securities fraud. Last week Milken agreed to set aside assets of at least $600 million, which could be forfeited if he is found guilty...
Under last week's racketeering charges, the Government can freeze the Milken brothers' assets even before they are tried. Prosecutors are expected to ask the investment bankers to post a $1 billion bond to prevent such an asset seizure. Last week Milken said he would take a leave of absence from the firm to fight the charges. Said he: "After almost 2 1/2 years of leaks and distortions, I am now eager to present all the facts in an open and unbiased forum...
...defense tactic, Milken's lawyers will probably attack Boesky's credibility because he received a reduced charge in return for his testimony. They could also challenge the constitutionality of the Racketeer Influenced and Corrupt Organizations law, the statute under which Milken has been charged. Some legal experts believe the law, originally designed to combat organized crime, gives prosecutors unfair leverage in white-collar-crime cases...