---
category: "Business & Finance"
tags:
  - Person
  - IranContra
  - CIA
  - Israel
summary: "According to Ari Ben-Menashe, money from the arms sales to Iran was held at Drexel Burnham, adding to Milken's firm's ability to underwrite junk bonds."
born: 1946-07-04
location: "Encino, California, USA"
---

[[Michael Milken]] was a prominent stockbroker known for building his junk-bond fortune at the brokerage house [[Drexel Burnham]]. According to [[Ari Ben-Menashe]], his activities intersected with the financial operations of the [[Iran-Israel Joint Committee]]'s slush fund.

Ben-Menashe wrote that large amounts of money from the arms sales to [[Iran]] were funneled through [[United States|American]] banks and held at Drexel Burnham, contributing to Milken's firm's stature and its ability to underwrite huge quantities of junk bonds, and that these deposits were managed on behalf of [[Israel|Israeli]] front companies.[^1]

He wrote that 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*. Sheridan Square Press, 1992 (TrineDay reprint, 2015).