Drexel Burnham
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Drexel Burnham Lambert was an American investment bank that was forced into bankruptcy in February 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. They were responsible for many high profile leveraged buyouts of many large corporations in the United States during the 1980s. [1]
Activities
Drexel Burnham was the investment fund that financed KKR & Co's takeover of RJR Johnson for $24.88 Billion in 1988. [2]
On November 14, 1986, longtime Milken client Ivan Boesky, pleaded guilty to SEC charges of insider-trading violations based on allegations made by investment banker Dennis Levine.
