| NEW YORK, March 5
NEW YORK, March 5 Three former top executives
from the bankrupt U.S. law firm Dewey & LeBoeuf are expected to
be hit with criminal charges on Thursday related to their
alleged misleading of lawyers and banks about the firm's
financial straits, according to a person familiar with the
Indictments are set to be unsealed in New York State Supreme
Court in Manhattan against former Dewey Chairman Steven Davis,
former Executive Director Stephen DiCarmine, and former Chief
Financial Officer Joel Sanders, said the person, who spoke on
condition of anonymity.
The Manhattan District Attorney has been investigating the
executives since around April 2012, when a group of Dewey &
LeBoeuf partners asked the prosecutor's office to examine
"financial irregularities" at the firm.
It could not be learned what the specific charges against
the three are, though the source said they involve felonies.
Lawyers for Davis, DiCarmine, and Sanders did not
immediately return requests for comment. A spokeswoman for the
Manhattan District Attorney did not immediately respond to an
email for comment.
The expected charges were first reported Wednesday evening
by the New York Times, quoting two unnamed sources.
Dewey & LeBoeuf collapsed in 2012, becoming the largest law
firm in U.S. history to go bankrupt. The firm filed for
protection under Chapter 11 of the Bankruptcy Code after lawyers
left over disputes over unpaid compensation and questions about
the firm's financial health.
At the time, Dewey's lenders were a bank group led by
JPMorgan Chase & Co that also included Citi Private Bank
, Bank of America Corp and HSBC Holdings Plc