Yes, Prosecutors Are Still Trying To Hold Someone Accountable For Dewey & LeBoeuf's Failure

The Biglaw retrial rolls on.

Dewey LeBoeuf new signI do recall at least one occasion discussing some of the specific [accounting] entries and asking if Joel [Sanders] was on board with this, meaning, has he approved this or initiated this action. [Frank Canellas] said ‘Yes.’ In fact, I think he said ‘Oh yeah.’

—Thomas Mullikin, former controller of the failed Biglaw firm Dewey & LeBoeuf, in testimony this week in the retrial of former Dewey execs, Joel Sanders and Stephen DiCarmine, on fraud and conspiracy charges. Mullikin worked directly under former finance director Frank Canellas, and both Mullikin and Canellas are among the government cooperators who’ve pled guilty to charges related to the case. Accounting irregularities that allegedly inflated the firm’s bottom line and encouraged investors and banks to sink money into the firm before its 2012 collapse are at the heart of the case. Sanders’s and DiCarmine’s 2015 trial on charges related to the firm’s downfall (which included as a defendant former Dewey Chairman Steven Davis as a defendant, who has since negotiated a deferred prosecution agreement) resulted in a mistrial on the majority of charges.

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