Make us your home page
Instagram

Attorney Weiss to plead guilty in kickback scheme

Prominent attorney — and for years many a company's nightmare — Melvyn Weiss agreed to plead guilty to racketeering in a kickback scheme involving payments to plaintiffs in class-action lawsuits targeting some of the largest U.S. corporations, federal prosecutors said Thursday. Weiss, 72, also will acknowledge that he and others concealed secret payment arrangements that his firm, Milberg Weiss, had with named plaintiffs in the lawsuits, prosecutors said in a statement. Under a plea deal, he could be sentenced to up to 33 months in prison and pay $10-million. His firm dominated the industry in securities class-action lawsuits, which involve shareholders who claim they suffered losses because executives misled them about a company's financial condition. Of special interest: Some of the allegations of kickbacks refer to "Florida plaintiffs" who received cash payments to serve as name plaintiffs in 60 or more lawsuits for the firm. The federal indictment says Weiss indicated that because the law firm would be paying these plaintiffs in cash, there would be no paper trail and therefore there was little risk they would ever be caught.

Attorney Weiss to plead guilty in kickback scheme 03/20/08 [Last modified: Thursday, March 20, 2008 8:13pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Siesta Beach tops Dr. Beach's rankings of best locations in America

    Tourism

    Three beaches in Florida made it on a highly coveted list of the top 10 in America this year, ranked by Dr. Stephen Leatherman, a.k.a. "Dr. Beach."

     Dr. Stephen Leatherman, a.k.a. "Dr. Beach," ranked Siesta Beach in Sarasota as the No. 1 beach in America.
[TImes file photo]
  2. Brooksville's popular Florida Cracker Kitchen aims at statewide expansion

    Retail

    BROOKSVILLE — Florida Cracker Kitchen's inverted cowboy boot logo — seemingly plastered on every pickup truck in Hernando County — may someday be just as ubiquitous across the state.

    Shrimp and grits is a signature dish at Florida Cracker Kitchen, which plans to open more restaurants in the state.
  3. Alison Barlow named director to spur creative economy, jobs of St. Pete Innovation District

    Economic Development

    After an extensive search, the recently created St. Pete Innovation District now has its first executive director. Alison Barlow on Thursday was named to the position in which she will help recruit and facilitate a designated downtown St. Petersburg area whose assets and members range from USF St. Petersburg, Johns …

    Alison Barlow has been named the first executive director of the recently created St. Pete Innovation District, a designated downtown St. Petersburg area whose assets and members range from USF St. Petersburg, Johns Hopkins All Children's Hospital and Poynter Institute to SRI International and the USF College of Marine Science, among many other organizations. Barlow, who most recently served as manager of the Collaborative Labs at St. Petersburg College, starts her new job June 16.[Photo courtesy of LinkedIn]
  4. Trigaux: Amid a record turnout, regional technology group spotlights successes, desire to do more

    Business

    ST. PETERSBURG — They came. They saw. They celebrated Tampa Bay's tech momentum.

    A record turnout event by the Tampa Bay Technology Forum, held May 24 at the Mahaffey Theater in St. Petersburg, featured a panel of area tech executives talking about the challenges encountered during their respective mergers and acquisitions. Show, from left to right, are: Gerard Purcell, senior vice president of global IT integration at Tech Data Corp.; John Kuemmel, chief information officer at Triad Retail Media, and Chris Cate, chief operating officer at Valpak. [Robert Trigaux, Times]
  5. Take 2: Some fear Tampa Bay Next transportation plan is TBX redux

    Transportation

    TAMPA — For many, Wednesday's regional transportation meeting was a dose of deja vu.

    The Florida Department of Transportation on Monday announced that it was renaming its controversial Tampa Bay Express plan, also known as TBX. The plan will now be known as Tampa Bay Next, or TBN. But the plan remains the same: spend $60 billion to add 90 miles of toll roads to bay area interstates that are currently free of tolls. [Florida Department of Transportation]