The statement said Columbia was an independent institution that made its own investment decisions, often in disagreement with Milken. Drexel has filed a $6 billion civil lawsuit against Thomas Spiegel and other former Drexel Burnham Lambert officials. Kuwait , formerly head of Drexel Burnham Lambert 's junk bond operations, was sentenced last month to 10 years in prison for six felonies relating to illegal trading practices, none involving junk bonds. The suit alleges that the thrift lost $6 billion on investments in junk bonds and seeks three times that amount under federal racketeering and antitrust laws. It accuses Milken and others of manipulating the junk bond market, giving bribes, misappropriating valuable stock interests, and skimming profits.
Drexel has filed a $6 billion civil lawsuit against Thomas Spiegel and other former Drexel Burnham Lambert officials. Kuwait , formerly head of Drexel Burnham Lambert 's junk bond operations, was sentenced last month to 10 years in prison for six felonies relating to illegal trading practices, none involving junk bonds. The suit alleges that the thrift lost $6 billion on investments in junk bonds and seeks three times that amount under federal racketeering and antitrust laws. It accuses Milken and others of manipulating the junk bond market, giving bribes, misappropriating valuable stock interests, and skimming profits.