Michael Milken's crimes were massive: systematically robbing clients by trading on their confidential information, manipulating securities prices to force deals on which he could make huge fees, gouging unsuspecting clients on junk-bond issues, and taking for himself securities meant for his customers. But the most shocking thing about this story is that it was all done in broad daylight. Mr. Dahl's own trading assistant, still on Mr. Milken's payroll, said she suffered a memory lapse; she didn't remember anything about the trades, so she couldn't back up Mr. Dahl. He soon enlisted Ivan F. Boesky in his schemes. Boesky was already trading illegally on secret information. The partnership flourished until Sept. 17, 1986 when Boesky became an undercover agent for the Department of Justice. This was the beginning of the fall which culminated on Nov. 21, 1990 when Milken was sentenced to 10 years in prison.
Michael Milken's crimes were massive: systematically robbing clients by trading on their confidential information, manipulating securities prices to force deals on which he could make huge fees, gouging unsuspecting clients on junk-bond issues, and taking for himself securities meant for his customers. But the most shocking thing about this story is that it was all done in broad daylight. He soon enlisted Ivan F. Boesky in his schemes. Boesky was already trading illegally on secret information. The partnership flourished until Sept. 17, 1986 when Boesky became an undercover agent for the Department of Justice. This was the beginning of the fall which culminated on Nov. 21, 1990 when Milken was sentenced to 10 years in prison.