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---
tags:
- Person
- Finance
- USA
---
[[Michael Milken]] was a prominent stockbroker known for building his junk-bond fortune at the brokerage house [[Drexel Burnham]]. His activities intersected with the financial operations of the [[Iran-Israel Joint Committee]]'s slush fund.
Large amounts of money from the arms sales to [[Iran]] were funneled through [[USA|American]] banks and held at [[Drexel Burnham]], contributing to Milken's firm's stature and its ability to underwrite huge quantities of junk bonds. These deposits were managed on behalf of [[Israel|Israeli]] front companies.[^1]
In 1987, the [[Iran-Israel Joint Committee]] decided to withdraw its funds from Drexel, a decision that contributed to Milken's growing troubles and ultimately to the fall of Drexel Burnham.[^1]
### Footnotes
[^1]: Ben-Menashe, Ari. *Profits of War: Inside the Secret U.S.-Israeli Arms Network*. TrineDay, 1992. (Hereafter, "Profits of War")