Feds Seek 33 Months for Melvyn Weiss, Former Milberg Partner Asks for 18
A federal probation office report is recommending that Melvyn Weiss be sentenced to a 33-month prison term on Monday for his admitted role in a secret payments scheme to class action clients. It allegedly also involved the high-profile plaintiffs securities law firm at which he was formerly a name partner.
His counsel is seeking an 18-month term, according to a National Law Journal article reprinted in New York Lawyer (reg. req.). This would be at the bottom of the expected sentencing range, while 33 months would be at the top, explains an earlier ABAJournal.com post.
In letters to the court, supporters speak of his many good qualities, recounts the Wall Street Journal Law Blog. “Collectively, the letters speak to the traits of kindness, integrity, as well as remorse. Several mention work on behalf of Holocaust victims, while others mention specific acts of generosity.”
As discussed in prior ABA Journal coverage, Weiss, who is now 72, and other senior partners of his former firm, including William Lerach, have pleaded guilty to an alleged scheme, in which the firm also is charged, to pay kickbacks to lead plaintiffs in securities class actions.
A previous WSJ legal blog post gives further details about the 33-month sentencing request, and the newspaper provides a copy of the 105-page sentencing brief (PDF) filed by Weiss’ counsel on Friday.
Now known as Milberg, the firm is reportedly in settlement talks with prosecutors. It recently filed a motion to try to reduce the roughly $250 million that the government is seeking in forfeiture for the firm’s claimed ill-gotten gains as a result of alleged conspiracy and money-laundering.
Related coverage:
ABAJournal.com: “House Leader Seeks Probe of Plaintiffs Firms’ Class Action Kickbacks”
ABAJournal.com: “Milberg Forfeitures Total $32M So Far, Well Below the $251M Target”
ABAJournal.com: “Melvyn Weiss to Plead Guilty; His Ex-Firm Changes Its Name”
ABA Journal: “Milberg Weiss on the Hot Seat”
