Shows
Law SchoolThe Racketeer Influenced and Corrupt Organizations (RICO) Act (Part Two)Michael Milken.
On 29 March 1989 American financier Michael Milken was indicted on 98 counts of racketeering and fraud relating to an investigation into an allegation of insider trading and other offenses. Milken was accused of using a wide-ranging network of contacts to manipulate stock and bond prices. It was one of the first occasions that a RICO indictment was brought against an individual with no ties to organized crime. Milken pleaded guilty to six lesser felonies of securities fraud and tax evasion, rather than risk spending the rest of his life in prison and ended up serving 22 months in...2022-10-2810 min