Michael Milken
Net Worth 2024, Height, Wiki, Age, Bio

 Michael Milken facts

• He is noted for his role in the development of the market for high-yield bonds ("junk bonds"), for his conviction following a guilty plea on felony charges for violating U
• S
• securities laws, and for his charitable giving
• Milken was indicted for racketeering and securities fraud in 1989 in an insider trading investigation
• As the result of a plea bargain, he pleaded guilty to securities and reporting violations but not to racketeering or insider trading
• Milken was sentenced to ten years in prison, fined $600 million, and permanently barred from the securities industry by the Securities and Exchange Commission
• His sentence was later reduced to two years for cooperating with testimony against his former colleagues and for good behavior
• 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 (2000), state that "Milken was a key source of the organizational changes that have impelled economic growth over the last twenty years
• Most striking was the productivity surge in capital, as Milken