Mistrial declared in Dewey & LeBoeuf case

Not yet clear if prosecution will pursue another trial

New York /
Oct.October 20, 2015 08:37 AM

The fraud prosecution against former executives of the law firm Dewey & LeBoeuf LLP ended in a mistrial Monday, with jurors “hopelessly” deadlocked on 93 of the more than 151 charges after 22 days of deliberation.

The jury acquitted ex-chairman Steven Davis, former executive director Stephen DiCarmine, ex-chief financial officer Joel Sanders on many of the charges, but failed to reach a verdict on the most serious ones: grand larceny and scheme to defraud.

The charges stem from alleged misstatements in the marketing materials for a $150 million bond offering in 2010. Back in 2014, a Securities and Exchange Commission regulator said the executives “orchestrated and executed a bold and long-running accounting fraud intended to conceal the firm’s precarious financial condition.”

Cyrus Vance, Manhattan’s district attorney, issued a statement saying the hung jury might “necessitate a retrial pending a thorough review of the case.”

Dewey & LeBoeuf had a major real estate practice before it went under in 2012, with 56 real estate lawyers globally and 28 in New York. Holland & Knight’s Stuart Saft was in charge of Dewey’s real estate practice before he left the firm. [NYT]Ariel Stulberg


Related Articles

arrow_forward_ios
Steven Roth and (inset) Bernie Madoff with 216 Old Montauk Highway (Getty, Compass)

Steve Roth slashes price on Montauk home once owned by Madoff

Steve Roth slashes price on Montauk home once owned by Madoff
Marble Ridge Capital LP's Dan Kamensky and Neiman Marcus at Hudson Yards in New York (Getty; Jewish National Fund)

Hedge fund manager arrested for fraud in Neiman Marcus bankruptcy

Hedge fund manager arrested for fraud in Neiman Marcus bankruptcy
Riza Aziz and (clockwise from left: 912 Hillcrest Road in Beverly Hills, Park Laurel in Manhattan and 2 Lygon Place in London (Getty, Google Maps, Realtor)

“Wolf of Wall Street” producer to forfeit $60M in 1MDB probe settlement

“Wolf of Wall Street” producer to forfeit $60M in 1MDB probe settlement
731 Lexington Avenue (Google Maps)

Former Turner Construction exec pleads guilty in bribery scheme

Former Turner Construction exec pleads guilty in bribery scheme
Savraj Gata-Aura

Bar Works Ponzi schemer sentenced to prison

Bar Works Ponzi schemer sentenced to prison
60 Riverside Boulevard and (inset) the island of Nauru (Google Maps)

UWS condo caught up in bribery scandal tied to world’s smallest republic

UWS condo caught up in bribery scandal tied to world’s smallest republic
Robert Durst appears in court for during opening statements in his murder trial on March 4, 2020 in Los Angeles (Photo by Etienne Laurent -Pool/Getty Images)

Robert Durst murder trial could be suspended as LA courts shutter over coronavirus

Robert Durst murder trial could be suspended as LA courts shutter over coronavirus
Larkin Plaza (Credit: Rendering courtesy of SLCE Architects)

RXR project among developments caught up in alleged Gambino mob scheme

RXR project among developments caught up in alleged Gambino mob scheme
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...