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Milton Krest is a character who appears in both the Fleming short story, The Hildebrand Rarity (which is part of the For Your Eyes Only short story compilation) and the 1989 film Licence to Kill where he is an aide of drug baron Franz Sanchez and operates Sanchez's drug smuggling front company. He was played by Anthony Zerbe.
Appearing in the 1989 film Licence to Kill, Milton Krest is the owner of the Ocean Exotica warehouse in Key West, Florida and the Wavekrest, a marine research vessel. Both serve as convenient covers for drug lord Franz Sanchez's U.S. and Caribbean drug operations. Once an imposing man, Krest is now Sanchez's alcoholic puppet, who peeks through windows at his boss' girlfriend Lupe Lamora.
Krest uses his organization to help rescue Sanchez after he is arrested by the American authorities, and is also present during Sanchez's brutal maiming of Felix Leiter. Bond visits Krest at his marine research facility to find clues about Sanchez and his whereabouts, and later infiltrates the Wavekrest. Bond ruins a drug shipment being managed by Krest and his crew, as well as stealing five million dollars of Sanchez's money. Krest orders his men to try and kill Bond before he can further ruin Sanchez's latest drug operation, but Bond manages to escape in a seaplane.
Krest becomes a victim in Bond's quest to exact vengeance on Sanchez for maiming his friend Felix and murdering his wife, Della. After gaining Sanchez's trust and convincing him that someone is trying to have him killed, Sanchez suspects Krest and visits him onboard the Wavekrest that night. With the help of Pam Bouvier and Q, Bond plants some of the money he had stolen from Sanchez in a decompression chamber inside the boat, leading Sanchez to believe that Krest had hired a team of hitmen to assassinate him and was using his own money to pay them off. A furious Sanchez kicks Krest inside the decompression chamber and gradually turns the pressure valve to an extreme level, before hacking the vent with an axe. The rapid decompression causes Krest's head to expand and then violently explode, splattering the porthole window, and the money, with blood.