Just to put that $600M fine in perspective: According to the US Government
paid Michael Milken $296M in 1986 and $550M in 1987. He avoided a heavier jail term
by pleading guilty
to the aforementioned securities fraud charges
in exchange for the government dropping the more serious charges of insider trading
, (a very good deal for him, I would say). In addition, he was banned for life
from working in the securities industry.
Whilst it is true that he also received a 10 year jail sentence in 1990, note that this was reduced to two years plus three years probation in 1991.
Upon his release from jail, Michael Milken began working as a management consultant but came into conflict with the SEC, who deemed that he was in violation of parole.