Clinton Considering Pardoning Milken and Others, NYT Says
Washington, Dec. 9 (Bloomberg) -- President Bill Clinton might pardon convicted former financier Michael R. Milken and several other high-profile people during his final days in office, the New York Times reported, quoting unnamed administration officials.
The Clinton administration has devoted special attention to a Milken pardon proposed by Dominicks Supermarkets Inc. Chairman Ronald Burkle, a leading Clinton campaign contributor, the newspaper said. Burkle has pledged $135 million toward Clinton's presidential library planned for Little Rock, Arkansas, according to the Times.
Milken, the leading creator of the market in high-yield ``junk'' bonds, pleaded guilty in 1990 to six counts of securities fraud. He paid more than $1 billion in fines, served 22 months of a 10-year prison sentence, and was barred from the securities industry for life.
A pardon would restore some status to Milken and permit him to vote in some states where convicted felons can't vote. It also would allow him to serve on corporate boards, the Times said.
Clinton is also considering pardoning former Associate Attorney General Webster Hubbell, who was convicted of defrauding his Little Rock law firm, and Susan McDougal, a partner in the Whitewater Development Company with the president and Hillary Clinton, the Times said.
Ms. McDougal was found guilty of fraudulently obtaining a $300,000 federal loan that was partly used to pay the debt of the Whitewater company.
Dec/09/2000 12:50 ET
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