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February 11, 2008

Bill Lerach gets (plea bargained max of) two years in prison

As detailed in this early AP report, "a former partner at a prestigious New York law firm has been sentenced to two years in federal prison for his role in a lucrative kickback scheme involving class-action lawsuits.  William Lerach was also sentenced Monday to two years probation, fined $250,000 and ordered to complete 1,000 hours of community service."

This somewhat unsurprising outcome can be spun in so many ways.  This was the max Lerach could get under the terms of the plea agreement, so this is arguably a sentencing win for federal prosecutors.  But, as detailed here, Lerach had put together such a favorable plea agreement, federal prosecutors at sentencing were forced to recommend a below-guideline sentence.  Also, against the backdrop of the decades of imprisonment given to many other prominent high-profile white-collar offenders, Lerach has to be content with the ultimate outcome.

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February 11, 2008 at 03:02 PM | Permalink

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