Several of President Donald Trump's advisors are pushing him to pardon Michael Milken, Bloomberg News reported Friday.
Michael Milken, 71, was known as the "junk bond king" in the 1980s and was convicted for securities fraud.
Milken has a net worth of $3.7 billion, according to Forbes. The financier, who pioneered the market for high-yield bonds while at Drexel Burnham Lambert, was sentenced to 10 years in prison and permanently banned from the securities industry by the Securities and Exchange Commission. His prison term was reduced to two years.
The White House and a spokesperson for the Milken Institute did not immediately respond to requests for comment.