
Witness to a Prosecution
The Myth of Michael Milken
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Narrated by:
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Richard Sandler
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By:
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Richard Sandler
About this listen
In 1986, the SEC and the U.S. Attorney for the Southern District of New York began an investigation into Michael Milken, Drexel Burnham Lambert, and its High Yield and Convertible Bond Department, a department Michael created and was head of. Michael was the most successful and innovative financier of his time. Drexel, an upstart investment bank was also the most successful securities firm on Wall Street, thanks to Michael.
What was the investigation into Michael Milken going to focus on, other than his innovation in the financial markets? Mike was democratizing access to capital for the 99% of companies that could not previously access the public market and created a financial revolution that continues to this day. The high yield bond market grew rapidly from the end of the 1970’s from $70 billion to over $2.2 trillion dollars in 2022. He created an industry that gave new businesses and investors the opportunity to create value by financing companies that were too small to access the markets.
Richard Sandler decided to represent Michael as his personal lawyer, and to be responsible for working with the lawyers they hired as well as overseeing the defense. But they could never have dreamed of the chaos that lay ahead.
But the injustice that Michael Milken faced was to be on a biblical scale. Richard Sandler has, after 36 years, decided to set the record straight. With never-before-seen transcripts of court documents, and a sharp analysis of each move and countermove, Witness to a Prosecution: The Myth of Michael Milken, is difficult to put down. Whether you are someone interested in understanding the criminal investigative process, or you just want to understand who Michael Milken is and what really happened to him, you will find that this is an eye-opening and important book that will be explored and discussed for years to come.
©2023 Richard Sandler (P)2023 Advantage Media Group, Inc.Listeners also enjoyed...
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A masterful account of today's money culture, showing how the underpricing of risk leads to catastrophe. With his trademark humor and brilliant anecdotes, Michael Lewis paints the mood and market factors leading up to each event, weaves contemporary accounts to show what people thought was happening at the time, and then, with the luxury of hindsight, analyzes what actually happened and what we should have learned from experience.
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Good - But you need to know what you are getting.
- By Cash on 01-03-09
By: Michael Lewis
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Hunting the Unabomber
- The FBI, Ted Kaczynski, and the Capture of America’s Most Notorious Domestic Terrorist
- By: Lis Wiehl, Lisa Pulitzer
- Narrated by: Lis Wiehl
- Length: 8 hrs and 46 mins
- Unabridged
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On April 3, 1996, a team of FBI agents closed in on an isolated cabin in remote Montana, marking the end of the longest and most expensive investigation in FBI history. The cabin's lone inhabitant was a former mathematics prodigy and professor who had abandoned society decades earlier. Few people knew his name, Theodore Kaczynski, but everyone knew the mayhem and death associated with his nickname: the Unabomber.
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Unfortunate; I wanted to love this-
- By larry on 05-02-20
By: Lis Wiehl, and others
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The Little Voice
- A Rebellious Novel
- By: Joss Sheldon
- Narrated by: Ralph Lister
- Length: 4 hrs and 55 mins
- Unabridged
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My character has been shaped by two opposing forces; the pressure to conform to social norms, and the pressure to be true to myself. To be honest with you, these forces have really torn me apart. They've pulled me one way and then the other. At times, they've left me questioning my entire existence. But please don't think that I'm angry or morose. I'm not. Because through adversity comes knowledge. I've suffered, it's true. But I've learned from my pain. I've become a better person.
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Read this sooner rather than later
- By CBS on 04-22-18
By: Joss Sheldon
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The Premonition
- A Pandemic Story
- By: Michael Lewis
- Narrated by: Adenrele Ojo
- Length: 11 hrs and 26 mins
- Unabridged
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For those who could read between the lines, the censored news out of China was terrifying. But the president insisted there was nothing to worry about. Fortunately, we are still a nation of skeptics. Fortunately, there are those among us who study pandemics and are willing to look unflinchingly at worst-case scenarios. Michael Lewis’ taut and brilliant nonfiction thriller pits a band of medical visionaries against the wall of ignorance that was the official response of the Trump administration to the outbreak of COVID-19.
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Why not Michael Lewis?
- By Brian on 05-04-21
By: Michael Lewis
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Disasterology
- Dispatches from the Frontlines of the Climate Crisis
- By: Samantha Montano
- Narrated by: Eileen Stevens
- Length: 9 hrs and 14 mins
- Unabridged
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With temperatures rising and the risk of disasters growing, our world is increasingly vulnerable. Most people see disasters as freak, natural events that are unpredictable and unpreventable. But that simply isn’t the case - disasters are avoidable, but when they do strike, there are strategic ways to manage the fallout.
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Great Book to Start
- By Jerome Cone on 02-06-25
By: Samantha Montano
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The Wizard of Lies
- Bernie Madoff and the Death of Trust
- By: Diana B. Henriques
- Narrated by: Pam Ward
- Length: 16 hrs
- Unabridged
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Who is Bernie Madoff, and how did he pull off the biggest Ponzi scheme in history? These questions have fascinated people ever since the news broke about the respected New York financier who swindled his friends, relatives, and other investors out of $65 billion. Many have speculated about what must have happened, but no reporter has been able to get the full story - until now. Diana B. Henriques of the New York Times has written the definitive book on the man and his scheme.
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The best of 3 madoff books
- By Angela willis on 03-18-13
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Careless Whispers
- The Award-Winning True Account of the Horrific Lake Waco Murders
- By: Carlton Stowers
- Narrated by: Danny Campbell
- Length: 17 hrs and 34 mins
- Unabridged
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When the bodies of three teenagers were found on the shores of Lake Waco, Texas, in July 1982, even seasoned lawmen were taken aback by the savage mutilation and degradation to which they had been subjected. Yet only 52 days after the gruesome triple-murder was discovered, frustrated authorities suspended the case indefinitely. Patrol Sergeant Truman Simons, who had been called to the scene that night, saw the carnage firsthand - and vowed to find the ferocious killer or killers. He soon became a man with a mission, risking his career and his family's safety in search of evidence.
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Seriously? The narrator is not that bad!
- By Chercoo on 05-05-19
By: Carlton Stowers
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The Upside of Oil and Gas Investing
- How the New Model Works and Why It Puts the Traditional Model to Shame
- By: Jay R. Young
- Narrated by: Jay R. Young
- Length: 3 hrs and 59 mins
- Unabridged
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The oil and gas industry is old and is notoriously resistant to change. Author Jay Young wants to revolutionize it. In his book, The Upside of Oil and Gas Investing, Jay Young presents a new investment model for the oil and gas industry that represents a total change in the way much of the smaller independent companies in the industry operate. He dissects the industry in detail, showing you the pitfalls investors can find themselves falling into when they sign onto a deal structured according to the old model.
By: Jay R. Young
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Tax Alpha Solutions
- Effective Tax Management Strategies for High-Net-Worth Investors
- By: Matthew Chancey
- Narrated by: Dustin Ebaugh
- Length: 5 hrs and 39 mins
- Unabridged
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There’s good news for investors: legal, tangible tax strategies are out there—they just need to be found. In *Tax Alpha Solutions: Effective Tax Management Strategies for High-Net-Worth Investors*, Matthew Chancey unveils specific, tested tax solutions for accredited investors and those who are eligible.
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Great listen. Ear opening for a small business owner
- By Alex B on 03-16-25
By: Matthew Chancey
What listeners say about Witness to a Prosecution
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Opinionman
- 02-06-24
Glad to see the record set straight.
It’s nice to read an insider account of a very famous story only told my those who were not in the room, who’s motives may have been taken by the sensationalism of the era.
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- Charles
- 12-28-23
One Major character flaw
The book states that he had thousands of phone calls with Ivan Boesky. In his business, he should have had good instincts for people who were constantly groping for information as inside traders. The author states that he was always trying to please the customers of his company. Since Ivan Boesky was only responsible for perhaps one percent of their business, he should have stopped doing business with him.
I really hate the routine practice of using a criminal as a witness against someone else in return for the criminal, receiving less time in prison. It does not make sense to me that this type of testimony can be so convincing to a judge or jury.
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- Alex Troy
- 12-19-23
Revisiting the Milken Saga
Witness To A Prosecution revisits, almost forty years later, the investigation, trial, and eventual pardon of financier Michael Milken. The author is a lifelong friend of Milken’s, and has the advantage of participating in many of the events he writes about.
Mr Sandler brings a refreshing perspective to the sprawling and complex investigations and trials that rocked Wall Street in the late 1980’s. He makes a strong case that Milken was the victim of prosecutorial (and regulatory) excess.
In that respect, the book is at variance with the small literature concerning Milken and the related cases that sprung up around the time of these events. Books like James Stewart’s Den of Thieves portrayed Milken without nuance or sympathy. Mr Sandler, by contrast, has boundless admiration for Mike Milken, and from a distance of forty years his sympathetic account has more than a measure of truth.
If you remember the unfolding insider trading scandals that led to the Milken plea deal, or if you’re interested in Wall Street, you will find this book compelling.
The story is occasionally slowed down by the author’s practice of quoting extensively from legal documents, but the drama of this remarkable legal, regulatory, and public relations battle comes through nonetheless.
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- tin
- 09-24-23
Fantastic book
I saw Richard Sandler on cnbc and I thought he made the story sound extremely interesting, and the book didn't let me down. It was really fascinating and an appropriate length. I enjoyed it from start to finish.
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- Anonymous User
- 01-10-24
The raw power of a district attorney…..
The raw power of a district attorney with political ambitions is quite disgusting. Phenomenal how the “(insider trading)” story of the 80s got so skewed by the media and the government.
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- Tamara Groat
- 01-11-25
Real facts
Very much enjoyed learning the story behind the story and hearing for the first time the timeline and facts associated with such a huge financial shakeup in our history. The truth will prevail and friendship is among our highest and most valuable of gifts
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- Anonymous User
- 03-19-25
A must-read about government corruption
If you need more evidence of the utter corruption of our government, this account of the railroading of Michael Milken ought to do it for you. As a former SEC attorney in the 1980s, I am embarrassed and angered to have been part of the agency.
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