Ex-Dewey & LeBoeuf Executive DiCarmine Reaches Tentative SEC Settlement
DiCarmine was acquitted in 2017 at a second jury trial of fraud and conspiracy charges related to the collapse of the firm five years prior.
January 31, 2018 at 12:23 PM
2 minute read
Stephen DiCarmine leaves court on Tuesday Oct. 13, 2015. Photo Credit: ALM Former Dewey & LeBoeuf executive director Stephen DiCarmine has reached a tentative settlement agreement with the U.S. Securities and Exchange Commission, according to a letter from his attorney to U.S. District Judge Valerie Caproni of the Southern District of New York filed Tuesday.
DiCarmine's attorney, Locke Lord of counsel Michael King, said in the letter that the settlement still required SEC review and approval.
The SEC's case against DiCarmine has been paused while he and others faced criminal charges in state court. In May 2017, DiCarmine was acquitted by a jury of fraud and conspiracy charges. It was the second attempt by the Manhattan DA's Office to bring charges against DiCarmine and former Dewey & LeBoeuf chief financial officer Joel Sanders, after the first case resulted in a mistrial in 2015.
While DiCarmine was acquitted, Sanders was found guilty on the same charges for scheming to deceive lenders and investors in the firm ahead of its May 2012 bankruptcy.
The SEC brought securities violations charges against DiCarmine, Sanders and three other former Dewey & LeBoeuf executives in 2014. Caproni granted a stay on the proceedings pending state criminal trial proceedings. The stay was extended through December 2017 to allow for settlement talks. Later that month, Sanders announced his own tentative settlement agreement with the SEC.
DiCarmine remained the last defendant with pending SEC charges against him. On Jan. 22, Caproni lifted the stay in the case and set a Feb. 2 deadline for the case to move forward.
In his letter, King asked Caproni to again stay proceedings in light of the settlement agreement.
A spokesman for the SEC did not respond to a request for comment or to provide details of the settlement.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Judge Denies Retrial Bid by Ex-U.S. Sen. Menendez Over Evidentiary Error
What Businesses Need to Know About Anticipated FTC Leadership Changes
7 minute read
Trending Stories
- 1The Week in Data Jan. 24: A Look at Legal Industry Trends by the Numbers
- 2The Use of Psychologists as Coaches/Trial Consultants
- 3Could This Be the Era of Client-Centricity?
- 4New York Mayor Adams Attacks Fed Prosecutor's Independence, Appeals to Trump
- 5Law Firm Sued for $35 Million Over Alleged Role in Acquisition Deal Collapse
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
