Witness to a Prosecution: The Myth of Michael Milken
In 1986, the SEC and the U.S. Attorney for the Southern District of New York began an investigation into Michael Milken, Drexel Burnham Lambert, and its High Yield and Convertible Bond Department, a department Michael created and was head of. Michael was the most successful and innovative financier of his time. Drexel, an upstart investment bank was also the most successful securities firm on Wall Street, thanks to Michael.

What was the investigation into Michael Milken going to focus on, other than his innovation in the financial markets? Mike was democratizing access to capital for the 99% of companies that could not previously access the public market and created a financial revolution that continues to this day. The high yield bond market grew rapidly from the end of the 1970’s from $70 billion to over $2.2 trillion dollars in 2022. He created an industry that gave new businesses and investors the opportunity to create value by financing companies that were too small to access the markets.

Richard Sandler decided to represent Michael as his personal lawyer, and to be responsible for working with the lawyers they hired as well as overseeing the defense. But they could never have dreamed of the chaos that lay ahead.

Neither of them could understand why the government thought it had a compelling reason to investigate Michael. Or why the media would be interested in building the investigation up into a firestorm. Of course, prosecutors want to win in high-profile cases, and prosecutorial witch-hunts and media hype can easily spin out of control, destroying the defendant in search of headlines and publicity as well as personal gain. Whenever the prosecution determines it will have the outcome it wants, no matter what, there is no escape.

But the injustice that Michael Milken faced was to be on a biblical scale. Richard Sandler has, after 36 years, decided to set the record straight. With never-before-seen transcripts of court documents, and a sharp analysis of each move and countermove, Witness to a Prosecution: The Myth of Michael Milken, is difficult to put down. Whether you are someone interested in understanding the criminal investigative process, or you just want to understand who Michael Milken is and what really happened to him, you will find that this is an eye-opening and important book that will be read and discussed for years to come.

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Witness to a Prosecution: The Myth of Michael Milken
In 1986, the SEC and the U.S. Attorney for the Southern District of New York began an investigation into Michael Milken, Drexel Burnham Lambert, and its High Yield and Convertible Bond Department, a department Michael created and was head of. Michael was the most successful and innovative financier of his time. Drexel, an upstart investment bank was also the most successful securities firm on Wall Street, thanks to Michael.

What was the investigation into Michael Milken going to focus on, other than his innovation in the financial markets? Mike was democratizing access to capital for the 99% of companies that could not previously access the public market and created a financial revolution that continues to this day. The high yield bond market grew rapidly from the end of the 1970’s from $70 billion to over $2.2 trillion dollars in 2022. He created an industry that gave new businesses and investors the opportunity to create value by financing companies that were too small to access the markets.

Richard Sandler decided to represent Michael as his personal lawyer, and to be responsible for working with the lawyers they hired as well as overseeing the defense. But they could never have dreamed of the chaos that lay ahead.

Neither of them could understand why the government thought it had a compelling reason to investigate Michael. Or why the media would be interested in building the investigation up into a firestorm. Of course, prosecutors want to win in high-profile cases, and prosecutorial witch-hunts and media hype can easily spin out of control, destroying the defendant in search of headlines and publicity as well as personal gain. Whenever the prosecution determines it will have the outcome it wants, no matter what, there is no escape.

But the injustice that Michael Milken faced was to be on a biblical scale. Richard Sandler has, after 36 years, decided to set the record straight. With never-before-seen transcripts of court documents, and a sharp analysis of each move and countermove, Witness to a Prosecution: The Myth of Michael Milken, is difficult to put down. Whether you are someone interested in understanding the criminal investigative process, or you just want to understand who Michael Milken is and what really happened to him, you will find that this is an eye-opening and important book that will be read and discussed for years to come.

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Witness to a Prosecution: The Myth of Michael Milken

Witness to a Prosecution: The Myth of Michael Milken

by Richard V. Sandler
Witness to a Prosecution: The Myth of Michael Milken
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Witness to a Prosecution: The Myth of Michael Milken

Witness to a Prosecution: The Myth of Michael Milken

by Richard V. Sandler

Overview

In 1986, the SEC and the U.S. Attorney for the Southern District of New York began an investigation into Michael Milken, Drexel Burnham Lambert, and its High Yield and Convertible Bond Department, a department Michael created and was head of. Michael was the most successful and innovative financier of his time. Drexel, an upstart investment bank was also the most successful securities firm on Wall Street, thanks to Michael.

What was the investigation into Michael Milken going to focus on, other than his innovation in the financial markets? Mike was democratizing access to capital for the 99% of companies that could not previously access the public market and created a financial revolution that continues to this day. The high yield bond market grew rapidly from the end of the 1970’s from $70 billion to over $2.2 trillion dollars in 2022. He created an industry that gave new businesses and investors the opportunity to create value by financing companies that were too small to access the markets.

Richard Sandler decided to represent Michael as his personal lawyer, and to be responsible for working with the lawyers they hired as well as overseeing the defense. But they could never have dreamed of the chaos that lay ahead.

Neither of them could understand why the government thought it had a compelling reason to investigate Michael. Or why the media would be interested in building the investigation up into a firestorm. Of course, prosecutors want to win in high-profile cases, and prosecutorial witch-hunts and media hype can easily spin out of control, destroying the defendant in search of headlines and publicity as well as personal gain. Whenever the prosecution determines it will have the outcome it wants, no matter what, there is no escape.

But the injustice that Michael Milken faced was to be on a biblical scale. Richard Sandler has, after 36 years, decided to set the record straight. With never-before-seen transcripts of court documents, and a sharp analysis of each move and countermove, Witness to a Prosecution: The Myth of Michael Milken, is difficult to put down. Whether you are someone interested in understanding the criminal investigative process, or you just want to understand who Michael Milken is and what really happened to him, you will find that this is an eye-opening and important book that will be read and discussed for years to come.

Product Details

ISBN-13: 9798887501338
Publisher: Advantage Media Group, Inc.
Publication date: 08/01/2023
Pages: 352
Sales rank: 320,594
Product dimensions: 6.00(w) x 9.00(h) x (d)

About the Author

RICHARD SANDLER is executive vice president, secretary, and a trustee of the Milken Family Foundation. He has been involved with the Foundation since its formation in 1982 and has contributed to its initiatives in education and medical research.

Richard chairs the board of trustees of The Jewish Federations of North America and is the former chair of The Jewish Federation of Greater Los Angeles.

Richard is a partner in the law firm of Maron & Sandler. He has been an investor for over twenty-five years, including acting as the managing partner of various partnerships. He serves on the boards of directors for several companies including KU Education, Inc., Knowledge Schools, Inc., and Heron International Limited. Richard is a member of the State Bar of California and the American Bar Association. He received his law degree from UCLA Law School.

Table of Contents

Introduction
Chapter 1
September 1966 / November 14, 1986
Chapter 2
Why Michael Milken?
Chapter 3
The Investigation Begins, and a $5.3 Million Fee
Chapter 4
Choosing Lawyers and Prosecutorial Powers
Chapter 5
Use of Government Power
Chapter 6
The Loss of Edward Bennett Williams
Chapter 7
The Blank Canvas
Chapter 8
Indictment and SEC Complaint
Chapter 9
The Plea Negotiations
Chapter 10
The Plea
Chapter 11
Sentencing: Contrasting Memoranda and Boesky Tape
Chapter 12
The Fatico Sentencing Hearing and Sentencing
Chapter 13
Postsentencing
Chapter 14
Prison and Parole
Chapter 15
Civil Settlements
Chapter 16
Motion to Reduce Sentence
Chapter 17
Postrelease Government Investigations
Chapter 18
Pardon
Epilogue
Acknowledgments

What People are Saying About This

From the Publisher

"Sandler tells a convincing and concerning story of how the government targeted a largely innocent man and, when presented with proof of that innocence, refused to turn away from a bad case." Charlest Gasparino, Wall Street Journal

"Sandler offers an insider account of Milken’s ordeal, illustrating how an overzealous prosecution converged with a media frenzy to shape perceptions in both the courtroom and the court of public opinion." Ryan Lopez, nj com

"Drawing from firsthand experience and professional expertise, Sandler presents a riveting counter-narrative to the earlier portrayal of Milken that dominated the 1980s headlines." Ryan Lopez, nj com

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