A former partner with a prestigious New York law firm that made an estimated $250 million by filing class-action lawsuits against some of America’s largest corporations pleaded guilty Tuesday to a racketeering conspiracy charge.
Steven G. Schulman was charged in Los Angeles as part of a seven-year investigation into allegations that kickbacks were paid to people who agreed to be plaintiffs in class-action suits handled by the firm now known as Milberg Weiss.
The investigation has led to indictments and guilty pleas by several former partners and lawyers at the firm previously known as Milberg Weiss Bershad & Schulman.
Schulman, 56, entered his plea in U.S. District Court after reaching an agreement with prosecutors last month to forfeit $1.85 million (€1.32 million) to the government and to pay a $250,000 (€178,100) fine.
Asked by U.S. District Court Judge John F. Walter whether he did what the government alleged, Schulman responded, “Yes, I did.”