A New York state prosecutor told jurors Friday that the alleged criminal scheme to defraud Dewey & LeBoeuf’s banks and investors originated with the firm’s top executives, who drafted lower-level employees to do their dirty work.
In an extended final pitch to the jury that will continue next week, Manhattan Assistant District Attorney Peirce Moser said that former Dewey chairman Steven Davis and former executive director Stephen DiCarmine directed ex-CFO Joel Sanders to ensure that the firm met covenants with its banks. Sanders drafted the firm’s director of finance, Francis Canellas, to have firm employees artificially inflate Dewey’s bottom line, Moser said.
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