What's Become of Past Corporate Rogues?

Aug. 7, 2002 -- White-collar crime is nothing new, although tomorrow's punishments might become stiffer, thanks to recently passed corporate crime laws. Here's a look at some rogues and corporate criminals of the past and present and what has become of them.

Michael Milken: The so-called junk-bond king who pioneered the financing of companies with high-yield, or junk, debt, pleaded guilty in 1990 to six counts of securities fraud. He served two years in prison, paid more than $1 billion in fines and was banished from working in the securities business for life.

Milken, a prostate cancer survivor, now heads up the Milken Institute, an economic think tank in Santa Monica, Calif., and dedicates his time to prostate cancer research through an organization he founded called Cap CURE. With a reported net worth of $770 million, Milken ranked No. 340 on Forbes magazine's 2001 list of the 400 richest Americans.

Ivan Boesky: The former stock speculator pleaded guilty to making $100 million in illegal profits from insider trades in 1992. He served just under two years of a three-year sentence and paid an estimated $100 million fine. As part of a divorce settlement, Boesky reportedly received $20 million and a $2.5 million house from his ex-wife, Seema.

A mysterious figure, Boesky's whereabouts are sketchy — a recent report on MSNBC said he's thought to be staying out of the limelight in Europe. But he hasn't always been so low-key. After his release from prison, an article in Vanity Fair said the financier was finding "inner peace" on a mountaintop in California, leading a life of wine, women and weight-lifting.

Leona Helmsley: Known in the media as the Queen of Mean, Helmsley was convicted in 1989 of tax evasion and sent to a federal prison, ironically enough, on tax day, April 15, 1992. A judge later reduced her sentence from 30 months to 21 months so she could care for her ailing husband, Harry. Helmsley also paid $ 1.7 million in restitution and after her release was sentenced to three years' probation that included 250 hours of community service a year.