Jurors in a New York state court heard vastly different characterizations Tuesday of the alleged roles of three former executives who are facing criminal fraud charges related to the 2012 collapse of Dewey & LeBoeuf.
In the first day of what is expected to be a four-to-six-month trial, prosecutors portrayed the three defendants—former firm chair Steven Davis, onetime executive director Stephen DiCarmine and ex-chief financial officer Joel Sanders—as “[directing] a fraudulent scheme” that deceived Dewey & LeBeouf’s lenders and investors into thinking that the firm’s financial performance was healthier than it was.
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