Call it just another day on Wall Street during the scandal-ridden 1980s. This time, the culprit was the once-high-flying junk bond firm, Drexel Burnham Lambert Inc., which pleaded guilty to charges of mail, wire and securities fraud. As part of the settlement, Drexel agreed to hand over a record $650 million in fines, as well as to cooperate with authorities in their ongoing investigation of other Wall Street figures.
Posts Tagged ‘Fraud Settlement’
This Day in Wall Street History 1988: Drexel Burnham pleads guilty to securities fraud
December 21st, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: 1980s, 80s, Chapter 11, Coffers, Culprit, Drexel Burnham Lambert, Flying Junk, Fraud Settlement, Junk Bond King, Junk Bond Market, King Thanks, Mail Fraud, Michael Milken, Racketeering, Scandal, Securities Fraud, Source History, Wall Street, Wall Street History, Wire Fraud 
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