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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.