08 August 2013

Former Baker & McKenzie partner jailed

A former Baker & McKenzie lawyer who last year pleaded guilty to money laundering and involvement in a $55 million securities fraud has been sentenced to two years in prison.

By Charlotte Mullen

Martin Weisberg pleaded guilty last year to two separate criminal charges Lisa S.

New York Judge Nicholas Garaufis sentenced Mr Weisberg, 62, for two criminal cases that were a result of ‘calculated frauds and lies,’ one for skimming  $1.3 million from an escrow account  of a hedge fund client, the other for conspiracy in a stock fraud scheme, which according to Bloomberg Law, aimed to manipulate the stock prices of technology firms Xybernaut Corp. and Ramp Corp.

'Unbridled greed'

Mr Weisberg worked at Baker & McKenzie from 2005 until his resignation in 2007 at the time of his arrest. Previously, he worked at Cravath, Swaine & Moore LLP, Morgan Lewis & Bockius and Shea & Gould. Mr Weisberg was also ordered to pay $297,500 in restitution and $250,000 in forfeiture. A statement from Eastern District US attorney Loretta Lynch said that ‘Weisberg’s unbridled greed has led him from the halls of an international law firm to a federal prison cell.’


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