Leapfrog Enterprises, an educational toy company jointly controlled by Michael Milken and Oracle chief Larry Ellison, is the only one out of a predicted five initial public offerings to go ahead in the US this week.

Milken gained notoriety during a junk bond scandal in the 1980s. He eventually pleaded guilty to securities fraud, served 22 months in jail and paid a $447m penalty. His former firm Drexel Burnham Lambert paid $650m, which is still the record for the largest fine in the securities industry.