Last defendant in Milberg kickback case pleads guilty
From the Associated Press
Tuesday, July 15, 2008
The last defendant in a major federal kickback case involving
class-action lawsuits against some of the nation's biggest
corporations pleaded guilty Monday to a tax-related felony.
Under an agreement with prosecutors, Paul T. Selzer entered his
plea to corruptly endeavoring to obstruct the Internal Revenue
Prosecutors said Selzer, 67, accepted nearly $50,000 from New
York-based law firm Milberg Weiss but failed to tell the IRS
that he transferred nearly $19,000 to Seymour Lazar, a plaintiff
in class-action lawsuits brought by Milberg Weiss.
"I plead guilty," Selzer told U.S. District Judge John Walter.
Selzer was the last of six defendants in the long-running case
that led to guilty pleas by three former partners at Milberg
The firm dominated the field of securities class-action lawsuits
involving shareholders who claim they suffered losses because
executives misled them about a company's finances.
Prosecutors have said Selzer, of
Palm Springs, has agreed to pay a
Selzer could face as many as three years in prison at his Nov. 3
sentencing, but prosecutors intend to recommend a probationary
sentence that could include home confinement.