Paul T. Selzer -- the final defendant in the government's bribery case against law firm, Milberg Weiss -- plans to plead guilty in relation to the Milberg Weiss kickback investigation. Selzer was originally indicted in the probe back in June of 2005.

Details of Selzer's plea agreement are expected this morning. Selzer, a California attorney, had been one of the key figures at the heart of the government's investigation into Milberg Weiss. securities class action lawsuits against a variety of companies.

It was alleged that Selzer helped Milberg funnel payments to his client, Seymour Lazar, another attorney and reoccurring lead plaintiff for Milberg. It is expected that Selzer get probation and avoid jail time but be required to pay a $250,000 fine.

If you've hit the snooze button a few too many times in the course of the Milberg case and want a refresher, you might want to check out our recap of the Milberg investigation, penned on the eve of the firms indictment back in May of 2006.

--MDT

Labels: Bill Lerach, Melvyn Weiss, Milberg Weiss, Paul Selzer, Seymour Lazar, Steven Cooperman

Bill Lerach has requested a one year prison term, half of that to be spent at home. Prosecutors have been aiming for something more like two years. Specifically, "The federal probation office recommended a sentence of 15 to 21 months, two to three years of supervised release and a fine of $4,000 to $40,000."

The penalty would stem from Lerach's guilty plea on one count of conspriacy in relation to the governments investigation into plaintiff kickbacks paid by Lerach's former law firm, Milberg Weiss. Milberg co-founder Melvyn Weiss along with attorney Paul Selzer have both maintained their innocence and face trial later in the year.

SENTENCED: The final numbers are 2 years in prison, 250,000 fine, 1,000 hours of community service. Lerach is expected to surrender himself for incarceration in April.

-- MDT

Labels: Bill Lerach, kickbacks, Lerach, Melvyn Weiss, Milberg, Milberg Weiss, Paul Selzer

He is currently free on $1 million bond and is, at a hearing today, expected to plead innocent to a variety of charges stemming from the government's investigation into kickbacks offered to Milberg clients. Weiss is facing four counts of conspiracy, racketeering, obstruction of justice and making false statements and could serve up 40 years based on the charges.

A trial is scheduled for January, where Weiss along with will co-defendants Seymour Lazar and attorney Paul Selzer, will get a chance to defend themselves against federal prosecutors' ever-expanding case. The Lazar and Selzer indictments kicked of a renewed push in the government's years-long investigation of Milberg Weiss. Lazar and Selzer were a multi-time Milberg plaintiff who purportedly received kickbacks from the firm.

Further details on the Melvyn Weiss trial can be found via Reuters... and of course, for past coverage from The Daily Caveat, try the tags below.

Labels: kickbacks, Melvyn Weiss, Milberg, Milberg Weiss, Paul Selzer, Seymour Lazar