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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