Prosecutors in the criminal trial of three former Dewey & LeBoeuf executives for the first time Tuesday presented evidence that suggested the defendants lied to their bankers about how the now-defunct firm spent the money it received from lenders.

Instead of spending a $125 million long-term loan on capital improvements, Dewey & LeBoeuf paid its partners with the cash, suggested firm emails presented by prosecutors with the New York County District Attorney’s Office.

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