Prosecutors Recommend Two Years For Lerach; Lazar Sentenced To Home Confinement

In court documents filed late Monday in US District Court in Los Angeles, prosecutors recommended that former Milberg Weiss senior partner William Lerach serve two years in prison. Lerach pleaded guilty on October 29, 2007 to one count of conspiracy to obstruct justice in connection with the firm’s hidden payments to repeat plaintiffs in class action lawsuits. However, the  the pre-sentencing report filed by the probation office recommended a sentence of 15 months. Lerach’s guilty plea called for a prison term of one to two years. Sentencing is scheduled for February 11, 2008 before US District Judge John Walter. On Tuesday, Judge Walter sentenced former Milberg client Seymour Lazar to six months home confinement. Lazar, an 80-year-old retired attorney who was the recipient of $2.6 million in secret payments from the firm, had pleaded guilty in October to obstruction of justice, subscribing to a false tax return and making a false declaration to the court.  The Houston Chronicle has the Bloomberg News story here.