Mike Milken Swings And Misses
He and a few big-name pals are getting burned at ICS Communications
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In 1990, Michael R. Milken pleaded guilty to six felony counts of securities law violations. He paid more than $1 billion in fines and restitution and was banned from the securities industry for life. After serving two years in jail, he is still waiting for his probation period to end, in late October.
With such a past, Milken can't be doing much wheeling and dealing, right? Wrong. The former junk-bond kingpin still has a knack for putting together deals with his old circle of friends. But what is missing--in one instance at least--is the old Milken knack for picking winners.