Seymour Lazar, the 80 year old attorney - and serial securities plaintiff - who plead guilty in the Milberg kickback case
has received his sentence - six months home detention and two years probation. He was also fined $600,000. Lazar is the first to be sentenced in the Milberg probe.
Lazar has also already repaid $1.5 million, which amounts to what he was allegedly paid by Milberg Weiss in exchange for acting as a re-occurring lead plaintiff in the firm's securities class actions. Milberg stands accused (and seven people have already plead guilty in connection with) distributing $11 million in kickbacks to individuals they called upon to routinely serve as lead plaintiff in their cases.
-- MDT
Labels: Bill Lerach, kickbacks, Lerach, Milberg, Milberg Weiss, Seymour Lazar