As the trial of three former Dewey & LeBoeuf leaders unfolds in Manhattan Supreme Court this summer, it’s worth remembering that this case isn’t the first time that the managers of a large failed law firm have faced criminal charges.
Some 24 years ago, Harvey Myerson, a name partner of New York’s bankrupt Myerson & Kuhn, was convicted of duping client Shearson Lehman Hutton out of more than $2 million to fund a lavish lifestyle that reportedly included spending $2,500 per month on cigars. In 2009, Marc Dreier, founder of New York’s 270-lawyer, now-defunct Dreier, pleaded guilty to money laundering, conspiracy, securities fraud and wire fraud after admitting to stealing $380 million from 13 hedge funds via a Ponzi scheme.
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