Guggenheim Partners, the multi-billion-dollar firm that owns the Hollywood Reporter and the Los Angeles Dodgers, is facing a Securities and Exchange Commission investigation into its relationship with former junk-bond trader Michael Milken, Fortune magazine reported.A spokeswoman for the SEC declined to comment to TheWrap saying: "We can neither confirm nor deny the existence of any investigation.

The client was Michael Milken, the one-time junk bond king, the people said. Michael Milken, chairman of the Milken Institute, has been at the forefront of successful initiatives in medical research, education, public health and access to capital for more than four decades.

Michael Milken is engaging a range of industry leaders and medical experts to help us better understand and confront the Covid-19 crisis. ... Guggenheim Partners : As Chairman of Investments and Global Chief Investment Officer for Guggenheim Partners, Scott Minerd oversees more than $270 billion in assets.

The firm's interaction with him is no different than it is with a number of clients." ... Guggenheim Partners’ Alan Schwartz put the risks of rising income inequality more starkly. "But Milken, a longtime client of Guggenheim's who at times invested as much as $800 million with the firm, may be acting as a manager of the financial giant's investments beyond his own money, Fortune said.Guggenheim owns Guggenheim Digital Media, the parent company of THR, Billboard and Adweek.The 1998 settlement Milken -- dubbed the one-time "king of junk bonds" -- reached with the SEC for his role in a series of 1980s Wall Street scandals allows him to manage his own money, but he is banned from acting as an investment adviser or broker.Now the SEC is looking into transactions Milken made with Guggenheim, including a joint investment into the energy company Milagro, in which the pair helped invest millions.Todd Boehly, the president of Guggenheim, was subpoenaed by the SEC, and the firm was forced to hand over tens of thousands of documents to investigators. The Guggenheim executive was co-founder Todd Boehly, while the client who lent him money was famed bond investor Michael Milken, people familiar with the matter have said. "He discusses investments with these advisors from time to time, but only as an investor of his funds and those of his family," the statement said. And stir in Guggenheim, one of the grand old names of American business. "He discusses investments with these advisors from time to time, but only as an investor of his funds and those of his family," the statement said. The firm's interaction with him is no different than it is with a number of clients."

Spokesmen for Boehly and Milken … MONDAY, JUNE 22, 2020 9:00am-10:30am PT / 12:00pm-1:30pm ET Milken Institute CEO Michael Klowden opens a two-part plenary moderated by Milken Institute Chairman Michael Milken. Guggenheim Partners, the multibillion-dollar firm that owns the Hollywood Reporter and the Los Angeles Dodgers, is facing a Securities and Exchange Commission investigation into its relationship with former junk-bond trader Michael Milken, Fortune magazine reported.A spokeswoman for the SEC declined to comment to TheWrap saying: "We can neither confirm nor deny the existence of any investigation. "A spokeswoman for Guggenheim did not respond to requests from TheWrap for comment, though CEO Mark Walter told Fortune: "Mike doesn't have an ownership or managerial role of any kind at Guggenheim. Michael Milken speaks during the 2019 Milken Institute Global Conference at the Beverly Hilton in Beverly Hills. But Milken, a longtime client of Guggenheim's who at times invested as much as $800 million with the firm, may be acting as a manager of the financial giant's investments beyond his …