 |
Definition of 'Michael Milken'
As an executive at investment bank Drexel Burnham Lambert Inc. during the 1980s who used high-yield junk bonds for corporate financing and mergers and acquisitions. Michael Milken amassed an enormous personal fortune, but in 1989 he was indicted 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.
|
 |
Investopedia explains 'Michael Milken'
Nicknamed "The Junk Bond King" in the 1980s, Milken earned between $200 million and $550 million a year at the height of his success. Following his release from prison, he worked as a strategic consultant. This was in violation of his probation, and he was subsequently fined $42 million for these actions. In 1993, Milken was diagnosed with prostate cancer; since then, he has devoted much of his time and resources to the pursuit of a cure for the disease.
|
-
Don't be fooled by the name - junk bonds may be for you if you know how to analyze them.
Read More »
-
Wall Street continues to attract fresh hordes of ghoulish people committing the same old crimes.
Read More »
-
From godfathers to perps, familiarize yourself with the "criminal elements" creeping around Wall Street.
Read More »
-
-
Find out how these Wall Street high-rollers landed themselves in hot water.
Read More »
-
Where there is money, there are swindlers. Protect yourself by learning how investors have been betrayed in the past.
Read More »
-
Here we look at some of the landmark incidents of insider trading.
Read More »
|
|
