Ex-Dewey Budget Head Says He Gamed Firm Expenses

Law360, New York (June 30, 2015, 8:23 PM EDT) -- The former budget director at Dewey & LeBoeuf LLP on Tuesday told a Manhattan jury he helped Dewey defraud the firm's lenders and investors by reclassifying expenses as income and other tricks at the direction of the firm's former chief financial officer, Joel Sanders.

Sanders is on trial alongside former Dewey Chairman Steven Davis and Executive Director Stephen DiCarmine on fraud and larceny charges for orchestrating a plan to fool banks and investors into believing the firm was in fit financial shape in the wake of the global financial crisis.

Ilya Alter, Dewey's former director of budgeting and planning, testified that...

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