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Apr 1, 2015 · The tale of Drexel Burnham Lambert's unlikely rise, gargantuan heights, and calamitous fall is the story of Wall Street. A quarter of a century after Michael Milken wept in court as he...
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$35,100,000,000 $27,200,000,000 $40,800,000,000 through...
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Milken's compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S. income at that time. [4] . With a net worth of US$ 6 billion as of 2022, he is among the richest people in the world. [5] [6]
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- Lowell Milken (brother)
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Drexel Burnham Lambert Inc. was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken.
- 1935
- 60 Broad Street, New York, New York, United States
- I. W. "Tubby" Burnham
Apr 4, 2024 · In 1986, however, one of Drexel’s clients, Ivan Boesky, was convicted of insider trading, and he implicated Milken and Drexel Burnham Lambert in his illegal financial dealings. In 1988 both Milken and Drexel Burnham were charged with securities fraud.
Apr 30, 1990 · Faced with the threat of expanded new charges, the former head of Drexel Burnham Lambert’s junk-bond department struck a tentative deal to plead guilty to six criminal counts and pay a $600...
Jul 23, 2021 · Drexel merged with Burnham and Company in 1973 to become Drexel Burnham Lambert. Most of Drexel’s workforce were jettisoned when the companies’ combined, but Milken remained and was...
Feb 19, 2020 · Michael Milken in 1989: the former head of Drexel Burnham Lambert's high-yield junk bond department was sentenced the following year to 10 years in prison after pleading guilty to...
