September 15, 1992 |
The charitable trusts controlled by former junk-bond impresario Michael Milken, which he and his wife endowed with $250 million in 1987-88 alone, virtually stopped growing after Milken was indicted in early 1989 on federal securities charges that led to his guilty plea and current prison term. Donations to outside causes by his family's four main trusts also slowed, state records show. Milken did form a fifth foundation in 1989, although no financial information about it is yet available.
June 12, 1991 |
"A Time for Heroes" began with hundreds of men, women and children (and dogs) in the parking lot at Paul Revere Junior High, where they were funneled into vans (although some rated limousines) and swiftly delivered to pastoral green fields in Mandeville Canyon.
CALIFORNIA | LOCAL
September 19, 1989
Three Los Angeles County educators are recipients of $25,000 California Educator Awards, state Supt. of Public Instruction Bill Honig has announced. Garfield High School mathematics teacher Ben Jimenez and curriculum specialist Cosetta Moore, both of the Los Angeles Unified School District, and arts teacher Barrie Becker of the Dorothy Kirby Center School, a special county school, were among 12 winners statewide chosen by the California Assn.
August 17, 1989 |
The California attorney general's office said Wednesday that a nine-month inquiry found no basis for action against four charitable foundations created by Michael Milken and his family. The decision was the first good news from a government agency in recent months for the embattled Beverly Hills financier, who is under federal criminal indictment on stock fraud and racketeering charges.
CALIFORNIA | LOCAL
June 11, 1989 |
The Cultural Foundation chose a fitting site for its "A Night of Nights." Foundation officials and supporters, who have dedicated themselves to building a cultural center in Sepulveda Basin, gathered Saturday at the J. Paul Getty Museum in Malibu for a celebration amid the type of artistic grandeur they are struggling to create in the San Fernando Valley. The event was sparked by Friday's unveiling of architectural models for the proposed 60-acre, $50-million Arts Park L.A. The models--including a theater, museum, art workshops and an open-air amphitheater--were selected from hundreds of entries during a lengthy design competition.
CALIFORNIA | LOCAL
April 7, 1989 |
In what an official said will be a major assault on illiteracy within the black community, the Los Angeles Urban League announced Thursday night the creation of a family and youth education center to train and tutor South Los Angeles residents "for the opportunities of the future."
November 11, 1988 |
The state Attorney General's Office launched an audit Thursday of the charitable foundations established by embattled Beverly Hills "junk bond" genius Michael Milken, citing concerns that the tax-exempt groups' directors may have benefited personally from the foundations' activities.
October 27, 1988 |
Beverly Hills financier Michael Milken and his wife donated a staggering $196.4 million to their three charitable foundations last year, lifting the foundations' combined assets to $280.9 million and making them among the nation's 50 biggest charitable groups, new state records show. Milken, who has become a near-billionaire by pioneering the use of high-yield, high-risk debt known as "junk bonds," recently was charged with civil securities fraud and illegal inside trading.
October 20, 1988 |
Financial wizard Michael Milken has become a near-billionaire by pioneering the market for "junk bonds," an accomplishment that also has him facing allegations of illegal insider trading. At the same time, junk bonds have quietly but enormously expanded the endowment and clout of three charitable foundations that are controlled by Milken and his family. Since 1982, Milken; his wife, Lori, and other family members have donated $155 million to the Capital Fund Foundation, the M. & L.
October 25, 1987 |
Four Los Angeles-area educators received accolades and checks for $25,000 last week at a Beverly Hills luncheon complete with veal and valet parking. "Thank you and welcome to the Academy Awards for educators," quipped honoree Gene McCallum, 52, principal of Audubon Junior High School in Los Angeles's Crenshaw district.