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November 21, 1990, Michael Milken Sentenced To 10 Years For Security Law Violations, Today In Crime History
On this date, November 21, in the year 1990, Michael Milken, who was know as the “Junk Bond King”, was sentenced to ten year in prison for financial and security fraud violations. His critics portrayed him as the epitome of Wall Street greed during the 1980s. Milken's compensation, while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s, exceeded $1 billion in a four-year period, a new record for US income at that time.