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Milberg, Weiss, Bershad and Shulman Indicted for Fraud

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At a glance:

A well-known law firm has been indicted for crimes including conspiracy, money laundering and mail fraud. 
 
Milberg Weiss, Bershad and Schulman, the company, and two of its partners and two other defendants allegedly took part in a scheme where lead defendants in class action lawsuits were paid and may even have put themselves in jeopardy willingly in order to be able to participate in the lawsuit. 
 
The class action suits in question were shareholder suits against major corporations.

NYC Lawyers Indicted For Class Action Fraud

1010 Wins - 5/18/2006 5:57 PM

LOS ANGELES (1010 WINS) -- A high profile New York law firm, two of its top partners, and two other individuals were indicted Thursday in Los Angeles on charges alleging a scheme that paid (m) millions of dollars in illegal kickbacks to plaintiffs and others.
 
The indictment charges New York-based Milberg Weiss, Bershad and Schulman, and attorneys David Bershad and Steven Schulman. They're charged with secretly paying about two-point-four (m) million dollars to co-defendant Seymour Lazar of Palm Springs and others to act as plaintiffs in class-actions since 19-84 and concealing the payments
 
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