Ex-Baker Atty Admits Role In $55M Stock Fraud, Escrow Scam

Law360, New York (May 21, 2012, 2:20 PM EDT) -- A former Baker & McKenzie LLP partner pled guilty on Monday to taking part in a $55 million stock-fraud deal and skimming $1.6 million in interest from a client's escrow account, hours before jury selection was set to begin in New York federal court.

Martin Weisberg, a securities partner at the firm's New York office from 2005 to 2007, faces up to 15 years in prison and could lose his law license, prosecutors said. The 61-year-old also faced wire fraud and securities fraud charges related to...
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