Fees In Wextrust Fraud Case Raise Eyebrows

Law360, New York (December 17, 2008, 12:00 AM EST) -- Investors who lost money in an alleged Wextrust Capital LLC Ponzi scheme are taking issue with the fees being charged by a court-appointed receiver and his law firm, Dewey & LeBoeuf LLP, and a judge has agreed that further explanation is necessary.

In a fee application for Aug. 11 to Aug. 31, Dewey & LeBoeuf requested more than $2.2 million in fees and expenses, alongside $57,300 in fees requested by receiver Timothy J. Coleman.

Coleman reduced his hourly rate from $850 to $250 as part of...
To view the full article, register now.