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Milken was implicated in illegal transactions by Ivan Boesky, a stock arbitrager who was also a longtime client of Milken's.
Rock Calendar 11-15-86: Wall St. hotshot Ivan Boesky fined $100 million for insider stock trading, highest penalty ever imposed by the SEC.
1986: U.S. - Wall Street arbitrageur Ivan Boesky pled guilty to insider trading and agreed to pay a $100 million fine.
Ivan Boesky was a legend
(11/14/2017) 11/14/1986: Wall Street arbitrageur, Ivan Boesky, pleaded guilty to insider trading and agreed to pay $100 million fine.