He did? How?
The background and the history is readily available for anyone with access to a computer. Or anyone who lives near a Barnes and Noble. Have at it, makes for good reading.
Here are some charges he plead gulty to.
On April 24, 1990, Milken pled guilty to six securities and reporting felonies in 1990:[1] Conspiring with Boesky to trade on inside information. Aiding and abetting the filing of a false tax return. The charge relates to Boesky’s false 13d statement. Using Boesky to conceal the true ownership of MCA stock, hiding the fact that Milken's client Golden Nugget Companies was selling MCA. Aiding and abetting Boesky in filing false SEC statements in their illegal scheme to help a client take over the Fischbach Corporation. Committing mail fraud in his scheme to defraud the investors of the Finsbury Fund, a junk-bond mutual fund. Milken and an associate inflated the prices that Finsbury paid for junk bonds to increase his commissions. Aiding and abetting the evasion of regulatory capital requirements. As part of his plea, Milken agreed to pay $200 million in fines. At the same time, he agreed to a settlement with the SEC in which he disgorged $400 million, to be paid to shareholders who had been hurt by his actions. He also accepted a lifetime ban from any involvement in the securities industry.