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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!
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From: ravenseye9/25/2007 2:58:50 AM
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Law firm founder indicted
Melvyn Weiss is alleged to have participated in a scheme to make secret payment to plaintiffs in class-action cases.
By Molly Selvin, Los Angeles Times Staff Writer
September 21, 2007
latimes.com
...The superseding indictment expands the scope of the firm's alleged criminal conduct to include charges that it paid kickbacks in 225 shareholder cases rather than 150, and that it illegally earned $250 million in attorney fees rather than $200 million.

The government contends that by maintaining a stable of ready-made plaintiffs to whom it made cash payments, Milberg Weiss positioned itself to be the first to file lawsuits against corporations that allegedly defrauded investors. The first-to-the-courthouse filings gave Milberg Weiss a leadership role in class actions, according to government lawyers, and so entitled the firm to the largest share of legal fees.

Weiss was charged with conspiracy, racketeering, obstruction of justice and making false statements. If convicted of all four counts, the 72-year-old could be sentenced to 40 years in prison....

...On Thursday, former Milberg Weiss partner Steven Schulman agreed to plead guilty to a federal racketeering charge and admitted that he conspired to conceal Milberg Weiss' secret payments to plaintiffs. Under the terms of the deal, the 56-year-old New York resident will forfeit $1.85 million and pay a $250,000 fine.

The racketeering charge carries a maximum penalty of 20 years in prison but government lawyers agreed to cut that sentence to between 27 and 33 months, depending on the extent of Schulman's cooperation.....
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