: Fenix Investors

So the man who many thought cut a deal to avoid the public agony of a trial (and, not incidentally, to spare his brother, Lowell, from the threat of criminal prosecution) went on trial anyway.
Milken admitted a measure of guilt in April, saying he engaged in illegal dealings with Boesky and David Solomon. He has paid $600 million in fines and penalties and faces up to 28 years in prison.
The fees Drexel could earn by landing a client were enormous. Regarding Kohlberg Kravis Roberts & Co.’s leveraged buyout of Storer in 1985, Joseph said: “This was a transaction we wanted to do. KKR was an important client.” Drexel earned $55 million in fees in that deal. The firm made $118 million from Wickes.
Federal prosecutors, led by Manhattan U.S. Atty. Rudolph Giuliani and armed with a zealousness to match the age, set out to show that “everyone doesn’t do that.” Threatened with the heavy club of racketeering indictments, a charge previously reserved mostly for organized crime, the rich and powerful dealmakers soon were cutting deals of their own and squealing on the bigger fish up the chain.
And Richard Grassgreen, the chief executive of a company that ran day-care centers across the country and starred in Drexel’s television advertising campaign, testified that when he put up the money of Kinder-Care Inc. to help Drexel finance a hostile bid, then pocketed the fees, he knew what he was doing was wrong but did it anyway.