Analysis of information sources in references of the Wikipedia article "William Lerach" in English language version.
Weiss, 72, must also forfeit $9.75 million and pay a fine of $250,000. He pleaded guilty April 2 to racketeering conspiracy, admitting he helped secretly pay a stable of plaintiffs to file suits from 1979 through 2005. By using them to sue first, the firm was more likely to lead cases and reap larger fees. ... Lerach is serving a two-year prison term after pleading guilty to conspiracy last year. Weiss faced as much as 40 years in prison if convicted at trial.
I pleaded guilty in this case because I was guilty," Lerach said before sentencing. "It was, as they say, felony stupid.
When the probe began in 1999, it was focused on Lerach.
According to the indictment, in the early stages of the scheme, which lasted from the 1970s through 2005, Milberg Weiss partners provided cash to pay the kickbacks since it is illegal for a plaintiff to receive any portion of the legal fees, which could be viewed as an incentive to settle rather than act in the best interest of the class. The firm would later award those partners bonus payments equal to the amounts they had paid in.
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