Dewey's former CFO is convicted for misleading lenders; former executive director is acquitted
Updated: Jurors in Manhattan on Monday found former Dewey & LeBoeuf chief financial officer Joel Sanders guilty in an alleged scheme to mislead lenders and bond buyers about the firm’s finances before its collapse.
Delivering a split verdict, jurors acquitted Dewey’s former executive director, Stephen DiCarmine, who had faced the same three charges.
Sanders faces a sentence of up to four years in prison at his sentencing in October. His lead lawyer, Andrew Frisch, said he would file post-trial motions and an appeal, according to the New York Law Journal story.
Neither defendant testified in the trial, which included testimony from more than 30 witnesses. Jurors deliberated for five full days and part of a sixth day.
It was the second trial for Sanders and DiCarmine. Jurors in the first trial acquitted the defendants on some charges and deadlocked on others after deliberating for 22 days. The initial indictment had outlined more than 100 charges; there were only three charges each against Sanders and DiCarmine in the retrial.
Former law firm chairman Steven Davis avoided retrial after reaching a deferred prosecution agreement.
Updated on May 9 to report on the planned appeal and the acquittals on some charges in the first trial.