Michael Milken , 42 , has resigned after 19 years with Drexel Burnham Lambert . Milken who reportedly made $550 million in 19 years faces $1.85 billion in forfeitures if convicted on a 98-count fraud and racketeering indictment. Milken 's trial is set for 42 ( 1990 ) in federal court in Milken . 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 42 and the firm he helped boost from a fifth -tier brokerage to the nation's fifth largest.
Michael Milken, 42, has resigned after 19 years with Drexel Burnham Lambert. Milken who reportedly made $550 million in 1987 faces $1.85 billion in forfeitures if convicted on a 98-count fraud and racketeering indictment. Milken's trial is set for next March (1990) 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.