BEVERLY HILLS, CA – MAY 03: Chairman of the Milken Institute Michael Milken speaks during the Milken Institute Global Conference 2017 at The Beverly Hilton Hotel on May 3, 2017 in Beverly Hills, California. (Photo by Frederick M. Brown/Getty Images) On Feb. 18, President Donald Trump, in a largely symbolic gesture, pardoned philanthropist Michael Milken. The move was part of a wave of seven pardons and commutations of sentences of four people, primarily white-collar criminals.
Milken, 73, pled guilty to securities fraud in 1990 and served 22 months in prison. He also was banned from the securities industry for life.
Trump praised Milken in a statement for doing “an incredible job for the world with all his research on cancer,” adding, “He’s done this and he suffered greatly. He paid a big price; paid a very tough price.”
Milken’s lifetime ban from the securities industry remains intact.
Milken said in a statement on his website, “Lori and I, who recently celebrated our 51st wedding anniversary, along with our children and grandchildren, are very grateful to the president. We look forward to many more years of pursuing our efforts in medical research, education and public health.”
According to Milken’s website, the philanthropist founded the Prostate Cancer Foundation in 1993. He also helped establish the Melanoma Research Alliance (MRA) in 2007, which to date has provided $110 million toward research aimed at curing melanoma.
Milken also has funded the Milken Gallery at the Skirball Cultural Center, chronicling Jewish history, and the Milken Archive of Jewish Music. The Milken Family Foundation also is a key sponsor of American Friends of the Hebrew University.
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