A California man has pleaded guilty to opening tens of thousands of bogus online brokerage accounts and then pocketing tiny test deposits made by companies like E-Trade Financial and Charles Schwab.

Michael Largent, 23, of Plumas Lake, Calif. pleaded guilty Thursday to computer fraud charges in connection with the scam, which ran between November 2007 and May 2008.

Largent's arrest was widely covered on the Internet last May, where it was likened to so-called Salami Slicing scams depicted in movies such as Superman III and Office Spaces.

According to prosecutors, Largent wrote a script that opened more than 58,000 online accounts at instructions such as E-trade and Schwab. He used fake names, including cartoon monikers such as Hank Hill and Rusty Shackelford to open these accounts and then profited when the brokerage firms would make tiny test deposits to make sure they were linked to his account.

Typically these deposits were between $0.01 and $2 but they added up. In total he made or tried to make more than $50,000 in the scam, the Department of Justice said.

Largent is also alleged to have received more than $8,000 in micro-deposits from Google, although he was not charged with this in his May 22 indictment.

He is set to be sentenced on Aug. 13 and faces up to five years in federal prison on two computer fraud charges, a U.S. department of Justice spokeswoman said Thursday.

The Reed Smith law firm said it will cut salaries for all U.S. associates by 10 percent across the board, effective July 1.

In an internal memo that was originally leaked to the Web site Abovethelaw.com Wednesday afternoon, managing partner Gregory Jordan said the firm had already adopted changes to its business plan because of the recession, changing client demands, and the competitive landscape in the legal industry. Among other things, Jordan said it has meant lower compensation levels for partners, though he did not specify by how much.

A spokeswoman for the Pittsburgh-based firm, which has about 280 employees in Philadelphia, confirmed the authenticity of the memo.

Jordan said the firm will set the salaries for the incoming class of first-year associates in the United States at a later date, but they will be at least 10 percent lower than the current levels. Jordan said the firm will freeze associates’ salaries in its European and Middle Eastern offices, and will set the starting salary for newly qualified associates in the United Kingdom about 10 percent lower than the current level. Asian operations are not affected by the action.

Herzfeld & Rubin P.C. is relocating its headquarters to 125 Broad St. in New York's Financial District, after a 50-year stint at 40 Wall St.

Mack-Cali, which owns roughly 40 percent of the 40-story office tower, signed the global law firm to a 20-year, 56,322-square-foot lease. The new deal brings the REIT's 525,000-square-foot portion of the 1.3 million-square-foot high-rise to full occupancy. Mark Shapses, Joseph Messina and Jason Schwartzenberg with Studley represented Herzfeld & Rubin.

The law firm joins prominent tenants such as Sullivan & Cromwell LLP and the American Civil Liberties Union (ACLU), both of which own their space. Herzfeld & Rubin's 64,736-square-foot lease at 40 Wall St., which encompasses floors 50 through 56, is up at the end of this year. The new space offers comparable size, but on less than two floors.

The new deal brings a nearly four-year search to an end. "We were hired in 2005 to find a more cost-effective, efficient occupancy solution for the firm, and periodically went out into the market looking for space," said Shapses. "The market went through extraordinary price and availability changes in that period. The right situation with the right economics hadn’t surfaced until now."

Schwartzenberg noted that the space hadn't even hit the market yet. "We knew it would soon be vacated so we moved quickly to secure it."

Mack-Cali will cover 100 percent of the modifications Herzfeld & Rubin requires. The concession package also includes free rent and furnishings.

Continuing its string of long-term deals, Mack-Cali also signed Global Aerospace to a 12-year lease in Parsippany, NJ. The aerospace insurer took 47,891 square feet at One Sylvan Way at the Mack-Cali Business Campus. Kenneth Flynn of Jones Lang LaSalle represented Global Aerospace.

Global Aerospace is relocating its U.S. headquarters from 22 Sylvan Way, also part of the Mack-Cali Business Campus. Wyndham Worldwide Operations leased the entire 250,000-square-foot office building for 15 years in January, according to CoStar information.

A computer expert claims in a lawsuit that Minneapolis law firm Leonard, Street and Deinard owes him $775,000 for storing digital evidence in a case involving the city’s two largest newspapers.

Mark Lanterman of Computer Forensic Services said he stored 62 terabytes of Star Tribune data, costing $155,000 a month, for five or six months before he deleted it, the Star Tribune reports. He claims the law firm still owes him $775,000 in unpaid bills.

The law firm’s reply to the suit says Lanterman has already been paid "handsomely" for every invoice he submitted on time, for a total of $854,000, the story says. The last invoice came in too late for the firm to bill the Star Tribune, ordered to pay expenses in the case, the court document said. The firm also says it didn’t have a signed contract with Lanterman.

In February, the 9th U.S. Court of Appeals struck down the law as a free speech violation that could limit minors' access to other material under the guise of protecting children. The court said there are less restrictive ways, such as parental control, to prevent children from accessing violent video games.

The court also dismissed as unpersuasive the scientific studies linking violent video games to aggressive and anti-social behavior.

The state Legislature passed the law in 2005, but it never took effect because the video game industry sued soon after Schwarzenegger signed the measure that would have barred sales and rentals to anyone under the age of 18.

The governor and attorney general argued Wednesday that the same legal justifications for banning minors from accessing pornography can be applied to violent video games.

Kagan gave the keynote address at the daylong event that also included a lunchtime speech by retiring Justice David Souter.

Wood, who serves on the U.S. Court of Appeals for the 7th Circuit in Chicago said she had long planned to attend the conference, but she would not answer any questions about the court.

She declined to say whether she was visiting the White House during her stay in Washington.

Wood and Kagan are among the candidates the president is considering to replace Souter, according to officials familiar with President Barack Obama's thinking.

Also attending the day's panel discussions at Georgetown University Law Center were Justice Stephen Breyer and retired Justice Sandra Day O'Connor, who has led the annual event since her retirement from the court in 2006.

She noted that Souter is "going to join me in that now very exclusive group of retired Supreme Court justices. His presence will double the membership."