Expert Witness Pleads Guilty to Perjury

John Torkelsen, a damages expert who made millions of dollars as an expert witness in numerous business lawsuits, plead guilty to perjury on Thursday. He admitted that he lied about how he was paid in a securities class-action case. Torkelsen apparently entered into secret fee-shifting deals with several law firms and as a result, those firms were able avoid millions in fees. He was also accused of submitting inflated bills only in successful cases. As such, he was essentially working on a contingent fee basis.