Steven Davis, Joel Sanders, and Stephen DiCarmine
I bet it isn’t who you think it is….
Well, perhaps it is. The retrial of former Dewey & LeBoeuf executives Joel Sanders, former CFO, and Stephen DiCarmine, former Executive Director, on fraud and conspiracy charges has fueled a lot of speculation — and criticism. And the voices of dissent were supercharged when former Dewey Chairman Steven Davis negotiated a deferred prosecution agreement. But it seems as though the doggedness of the prosecution was worth it — today the jury returned a guilty verdict. But it isn’t an across the board victory for the people; DiCarmine was acquitted of all charges. As Law360 reports:
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On its fifth full day of deliberations, the jury of eight women and four men found former CFO Joel Sanders guilty on two felony fraud charges and a misdemeanor count of conspiracy but acquitted former Executive Director Stephen DiCarmine of all charges.
The fall of the former Biglaw giant forever changed the firm landscape. Even amid the jubilation of an associate pay raise ten years in the making, the specter of the Dewey downfall cast a pallor. Today a jury decided who was criminally responsible.
Update: The New York Times has additional details on the jury charge:
The jury convicted Mr. Sanders on charges of securities fraud, scheme to defraud and conspiracy.
In his charge to the jury on May 1, Justice Robert M. Stolz told the jurors that Mr. DiCarmine and Mr. Sanders were on trial not for the financial collapse of Dewey but on charges that they sought to conceal the severity of its financial situation.
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BREAKING: Jury Convicts Ex-Dewey CFO, Frees Exec Director [Law360]
Kathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).