When Dewey & LeBoeuf solicited $150 million from insurance companies in a private placement in 2010, it assured investors that it was financially stable, Robert Mills, who handled private placements for The Hartford group, testified Thursday.
The Hartford, an insurance company, agreed to loan Dewey $40 million as part of that private placement, Mills said. In 2012, when it became clear that the firm would default on its loans, the insurer sold its Dewey notes for 60 cents on the dollar, he said.
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