OTHER NEWS - Oct. 22, 1991

Milken Lawyers Say He Warned of Manipulation: Michael Milken warned prosecutors months before the Salomon Bros. scandal broke in early August that the government bond market “was subject to manipulation,” according to court papers. The information is contained in documents filed by Milken’s lawyers, who are trying to persuade U.S. District Judge Kimba Wood to lower the financier’s 10-year sentence because he is cooperating with the government. The lawyers said Milken told the SEC and the U.S. attorney’s office about the manipulation and other illegal activities.