A federal judge has sentenced Michael Cohen to five years in prison and three years on probation during which he must perform full - time community service . John C. Coffee, a Columbia University law professor, said the judge may also have imposed the severe sentence because Milken occupied a position of trust at the center of the financial world. When the judge read the sentence Milken stood rigid and motionless with a look of disbelief . The sentence was by far the harshest imposed in the recent chain of Wall Street scandals . Milken pleaded guilty to conspiracy , securities fraud , filing false information with the SEC , mail fraud and aiding in the filing of a false tax return . The judge said she was convinced by evidence presented in pre - sentencing that Milken had committed other serious crimes including obstruction of justice .
A federal judge has sentenced Michael Cohen to five years in prison and three years on probation during which he must perform full - time community service . When the judge read the sentence Milken stood rigid and motionless with a look of disbelief . The sentence was by far the harshest imposed in the recent chain of Wall Street scandals . Milken pleaded guilty to conspiracy , securities fraud , filing false information with the SEC , mail fraud and aiding in the filing of a false tax return . The judge said she was convinced by evidence presented in pre - sentencing that Milken had committed other serious crimes including obstruction of justice .