P.M. BRIEFING : U.S. Urges Tough Milken Penalty
Prosecutors seeking a stiff prison term for Michael Milken released their long-awaited arguments to the sentencing judge today, urging her to concentrate on the convicted financier’s “sweeping and serious crimes.”
The 200-page memorandum to U.S. District Judge Kimba M. Wood exhorted her to pay scant attention to Milken’s good deeds and consider evidence that he was a systematic crook.
“The court’s sentence must demonstrate that persons who possess great wealth and prominence cannot expect that their privilege or their money will insulate them from certain and serious punishment,” said the document.
Milken, the most celebrated defendant in the securities fraud scandals that rocked Wall Street in the 1980s, is to be sentenced Monday.
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