In the first criminal trial over the collapse of Dewey & LeBoeuf, testimony from star government witness Francis Canellas wasn’t enough to secure convictions against the firm’s former leaders. Will prosecutors fare better this time?
Canellas, Dewey’s 37-year-old former finance director, took the stand Thursday in the Manhattan district attorney’s criminal case against former Dewey executive director Stephen DiCarmine and former CFO Joel Sanders. In a retrial that began last month, prosecutors accuse the executives of duping creditors about their firm’s true finances before it finally spiraled into bankruptcy in 2012.
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