The U.S. Attorney’s Office has announced a plea agreement with Bill Lerach, former partner at Milberg Weiss. He will plead guilty one one count of conspiracy, forfeit $7.75 million, and pay a $250,000 fine. He will receive a prison sentence that could be from one to two years.
The charges against Lerach were part of a string of indictments in an investigation of millions of dollars in secret kickbacks paid by Milberg Weiss in exchange for people being named plaintiffs in class-action suits and shareholder suits. The government has alleged that Milberg Weiss received more than $200 million in fees from these lawsuits.