Jackson and his family listened as Mesereau read out the statement
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Michael Jackson said he wishes he had fought previous accusations of child molestation in court instead of trying to "buy peace".
His lawyer read out the statement during a break in a pre-trial hearing into a separate case of alleged sexual abuse involving a teenage boy.
The singer stood by Tom Mesereau as he portrayed Mr Jackson as a victim of music industry greed on Friday.
Mr Jackson has denied 10 child molestation charges against him.
'False allegations'
He admitted earlier this month that "years ago" he had paid "certain people" who "wanted to exploit my concern for children".
In a 1993 case, Mr Jackson agreed to pay a boy he was accused of molesting a reported $20m (£11m). Police also learned of a separate case in 1990.
Mr Mesereau said on Frida Mr Jackson had been pressured to make payments by his advisers and by a music industry that "did not want negative publicity from these lawsuits interfering with their profits", when confronted with past allegations.
He said: "Many years ago, he did pay money rather than litigate two false allegations that he had harmed children.
"Mr Jackson now regrets making these payments. ... Mr Jackson always denied doing anything wrong.
"Mr Jackson had hoped to buy peace in the process. ... he should have fought these actions to the bitter end and vindicated himself."
'Illegal' raids
The 46-year-old star attended the pre-trial hearing at Santa Barbara County courthouse, in California, to watch the mother of his young accuser take the witness stand.
"Jane Doe", as she was referred to in court, crossed herself as she entered the witness box, before becoming involved in a tense exchange with Mr Mesereau.
The woman said Mr Jackson and his staff had kept the family prisoner at Mr Jackson's Neverland ranch and had talked of sending them to Brazil in order to silence them.
Mr Mesereau focused on two raids at the ranch in November 2003, saying they were illegal.
His questioning of the woman on Friday was aimed at trying to get evidence gathered in the raids ruled out.
Mr Jackson was not obliged to attend Friday's hearing, but decided to see his lawyers question the woman.
His trial is scheduled to begin on 31 January 2005.