Dewey's former finance director, a 'star witness,' is sentenced to community service
The former finance director at Dewey & LeBeouf, Francis Canellas, was sentenced to community service on Friday after his guilty plea and testimony against other law firm leaders.
Canellas was the “star witness” in the prosecution’s case against Dewey leaders accused of misleading lenders and bond buyers about the firm’s financial condition, the New York Law Journal (sub. req.) reports. The law firm collapsed in 2012.
Canellas was sentenced to 250 hours of community service. He had pleaded guilty to a scheme to defraud.
“With Canellas’ sentencing,” the article reports, “it’s all but certain that no one will go to jail in the Dewey case.”
The only Dewey leader who was convicted, former chief financial officer Joel Sanders, was sentenced in October to 750 hours of community service and fined $1 million.
Jurors acquitted Dewey’s former executive director, Stephen DiCarmine. Former law firm chairman Steven Davis was partly acquitted; he reached a deferred prosecution agreement to avoid a retrial on the remaining charges. Charges were dropped against a junior manager at the firm, Zachary Warren, after he complied with the terms of a deferred prosecution agreement.
See also:
ABA Journal: “How Dewey management’s rosy picture masked an ugly truth”
