Michael Milken is a philanthropist and current chair of a nonprofit think tank called Milken Institute. Milken was an executive at investment bank Drexel Burnham Lambert during the 1980s and used high-yield junk bonds for corporate financing and mergers and acquisitions. Milken amassed an enormous personal fortune and was indicted in 1989 by a federal grand jury and eventually spent nearly two years in prison after pleading guilty to charges of securities fraud. While he is credited with founding the high-yield debt market, he was banned for life from the securities industry.
Click to rate this post!
[Total: 0 Average: 0]