P.M. BRIEFING : Bail Hearing for Milken Delayed
A hearing today to set bail for junk bond king Michael Milken and his brother, Lowell, who were indicted for racketeering and securities fraud, was delayed until Friday at 10:30 a.m., the U.S. attorney’s office announced.
No reason was given for the delay, but a source close to the situation said lawyers were still negotiating a bond figure and were close to reaching an agreement. The bond hearing has been postponed several times.
Michael Milken was in New York today in the event an agreement could not be reached and he would have had to appear in court.
The bond hearing has been postponed several times.
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