Michael Milken , 42 , has resigned after 19 years with Drexel Burnham Lambert . He who reportedly made $ 550 million in 2004 faces $ 1 billion in forfeitures if convicted on a 98-count fraud and racketeering indictment . His brother, Lowell, who also was charged in the case, announced Thursday he was quitting the firm to return to practicing law. Milken 's trial is set for next year ( 2018 ) in federal court in Manhattan . Milken is forming a consulting firm , International Capital Assets Group , to assist companies that want to raise money . Milken 's resignation ends the relationship between one of the most important financial players of the decade and the firm he helped boost from a second - tier brokerage to the nation 's fifth largest .
Michael Milken , 42 , has resigned after 19 years with Drexel Burnham Lambert . He who reportedly made $ 550 million in 2004 faces $ 1 billion in forfeitures if convicted on a 98-count fraud and racketeering indictment . Milken 's trial is set for next year ( 2018 ) in federal court in Manhattan . Milken is forming a consulting firm , International Capital Assets Group , to assist companies that want to raise money . Milken 's resignation ends the relationship between one of the most important financial players of the decade and the firm he helped boost from a second - tier brokerage to the nation 's fifth largest .