| Prominent attorney Melvyn Weiss has agreed to plead guilty in a lucrative kickback scheme involving payments to plaintiffs in class-action lawsuits against some of the largest corporations in the nation, his defense attorney said Thursday.pWeiss will plead guilty to limited participation in a criminal conspiracy involving payments to plaintiffs, attorney Benjamin Brafman said in a statement./ppI deeply regret my conduct and apologize to all those who have been affected, Weiss said in the statement./ppBrafman did not specify the charges involved in the plea. Weiss previously pleaded not guilty to one count each of conspiracy, mail fraud, money laundering and obstruction of justice in a revised indictment./ppThe plea deal calls for Weiss to receive a prison sentence of 18 to 33 months, with the court able to substitute time in home confinement or community service./ppWeiss also agreed to pay $10 million in fines and forfeiture penalties, according to the statement./ppAuthorities say the firm now known as Milberg Weiss made an estimated $250 million over two decades by filing legal actions on behalf of professional plaintiffs who received $11.3 million in kickbacks./ppThe lawsuits targeted companies such as ATamp;T, Lucent, WorldCom, Microsoft Corp. and Prudential Insurance. /p |
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