June 2, 2008
Mel Weiss gets 30-month prison sentence
As detailed in this Bloomberg news report,"Mel Weiss, co-founder of securities law firm Milberg LLP, was sentenced to 2 1/2 years in prison for illegally paying clients to file shareholder suits that prosecutors said earned $251 million in lawyer fees." The WSJ Law Blog is all over the story with these two new posts:
UPDATE: Weiss's lawyer released this press statement following the sentencing:
While any sentence of imprisonment for a great man like Mr Weiss is sad to contemplate, we are grateful that Judge Walter reduced the sentence to 30 months from the 33 months called for in the Plea Agreement. The Court clearly recognized that despite his criminal conduct, Mr Weiss earned some measure of compassion by his lifetime of charitable and humanitarian work.
June 2, 2008 at 03:57 PM | Permalink
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In regards to the press statement...
This guy must have the Clinton's spin machine working for him; half truths and always making yourself sound better then anyone in reality would believe. I believe the plea agreement "called for" a stipulated sentence of 18 to 33 months. And I believe, the defense strenuously argued for 18 months. "Grateful" wouldn't be my first reaction (and I'm sure it wasn't Weiss' or his lawyers).
This guy makes lawyers look bad, and this final attempt to spin a sentence of 3 months lower than the stipultated max as positive for him continues that trend.
Posted by: a | Jun 3, 2008 11:38:36 AM