Ex-Dewey Partner Sues Barclays Over Allegedly Fraudulent Capital Loan

, The Am Law Daily

   | 1 Comments

Loan programs orchestrated by Dewey & LeBoeuf to help incoming partners cover capital contributions are sparking a new court fight, with a former Dewey partner claiming in a suit filed in Manhattan federal district court Tuesday that Barclays Bank and the now-defunct firm entered into a $540,000 loan agreement in his name without his permission.

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What's being said

  • RJB

    A modest comment on these related articles -- which are troubling, An ambitious and creative prosecutor might see the outlines of a capital contribution ponzi scheme on the part of Dewey management. Promise a chap millions in compensation, but induce him to front half of it and, if he is a bit slow getting around to it, take out a loan for the amount in his name at Barclays. (Then double-dip by withholding the same amount when he leaves?) Delay/Fail to pay him promised amounts. Then, in the meantime, enjoy the revenue from his book of business. Faust got an infinitely better deal than any of these rainmakers. The fact that they took the deals suggests to me that actual partner comp is far, far below PPP numbers bandied about at many firms. The Cleary ex-pat who was famously promised $8M FRONTED $4M,( then paid back $3.4M)? I don't mean to be unkind, but were crimes committed here?

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