Trump's Treasury secretary flew on a private jet owned by jailed 'junk bond' king lobbying for pardon
Steve Mnuchin appears on Fox News (screen grab)

Treasury Secretary Steve Mnuchin flew on a private jet owned by a billionaire who served two years in prison for securities fraud in the 1990's.

The New York Times reported Friday that this month, Mnuchin flew from Washington, D.C. to Los Angeles on a jet owned by Michael Milken, a "junk bond" billionaire.

The Treasury Department confirmed to the Times that Mnuchin took the flight, adding that after an internal review the department decided he did not need an ethics waiver.

A Treasury spokesperson added that Milken and the secretary have "known each other for years" and that Mnuchin reimbursed the billionaire -- but did not disclose the amount of the reimbursement.

The report noted that Mnuchin and other administration officials have been lobbying President Donald Trump to pardon Milken for the six securities fraud charges he served time for in the early 1990's.

"Mr. Milken, who had to pay $600 million in fines, was sentenced to 10 years in prison and released after two years," the report noted.

The Times added that Mnuchin's spokesperson said he "did not know if the idea of a pardon for Mr. Milken came up

during the flight," and that "other presidents have also considered pardoning Mr. Milken, including President Bill Clinton, but none has done so."