Dewey Prosecutors Describe 'Massive Fraud' In Trial Opening

Law360, New York (May 26, 2015, 2:41 PM EDT) -- Dewey & LeBoeuf LLP's former top leaders perpetrated a "massive fraud" in the years leading up to the firm's 2012 demise, using accounting shenanigans to steal from investors and lenders, a prosecutor said in New York state court Tuesday at the start of a long-awaited jury trial.

  During a two-hour opening statement in a packed Manhattan courtroom, a prosecutor laid out Manhattan District Attorney Cyrus Vance's case against former Dewey Chairman Steven Davis, former Executive Director Stephen DiCarmine and former Chief Financial Officer Joel Sanders. The trial, which could last six months, is expected to shed new light on the...

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