Last week, the U.S. Attorney for the Central District of California announced the indictment of famed plaintiffs' securities firm, Milberg Weiss Bershad & Schulman, and two of its name partners. The indictment alleges that the defendants participated in a scheme in which several individuals were paid millions of dollars in secret kickbacks in exchange for serving as named plaintiffs in more than 150 class-action and shareholder derivative-action lawsuits. The indictment alleges that the firm received well over $200 million in attorneys' fees from these lawsuits over the past 20 years.
Yesterday, the U.S. Attorney for the Southern District of Florida announced the unsealing of an indictment charging a lawyer, Louis S. Robles, with 41 counts of mail fraud in connection with his misappropriation of $13.5 million of settlement monies from clients' trust accounts. What did Robles do with his clients' money? In addition to financing his waste management companies and making mortgage payments of up to $101,000 a month on four different properties, Robles made a movie. What a guy.
Hmmm . . . is there a pattern here?
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