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Date: 30th September 1990
Service: ORACLE
Region: N/A
Original Broadcast Channel: Channel 4
Current Page: 524
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P524 ORACLE 524 Sun30 Sep C4 2354:06 JUNK BOND KING SEES LONG JAIL TERM Michael Milken, former head of Wall Street's ruined Drexel Burnham Lambert "junk bond" unit, faces sentencing on Monday for stock market fraud. Federal prosecutors are urging the stiffest possible sentence for the man most closely identified with Wall Street's 1980s "culture of greed". Milken was fined $600m in April when headmitted to six counts of fraud. Alleged to have committed numerous other crimes for which he is not being charged, Milken now faces a maximum sentence of 28 years in jail. FANCY A HOLIDAY IN CORNWALL? p383 Next Story Commodities Units Your Money