With testimony from roughly a third of the expected 79 prosecution witnesses in the criminal trial of Dewey & LeBoeuf’s former three top executives now complete, the basic contours of the New York County District Attorney’s case have come into sharper focus.
The 22-day parade of witnesses, as well as emails and spreadsheets painstakingly uploaded to a rickety courtroom Elmo projector, have given prosecutors ample opportunity to fill in the often arcane details of many of the allegedly illegal accounting tricks sketched out in the indictment of ex-chairman Steven Davis, former executive director Stephen DiCarmine and former chief financial officer Joel Sanders. The three stand accused of defrauding 13 insurance companies that invested in a $150 million bond issued by the firm in April 2010, and of alleged misrepresentations to the firm’s bank lenders between late 2008 and early 2012. Each faces years in prison if convicted.
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