Ex-Dewey Executives Charged in Fraud That Destroyed Firm

Someday, even the state and federal officials, employees and politicians will realize that electronic transmissions can be damning… And recovered.

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Ex-Dewey Executives Charged in Fraud That Destroyed Firm

Three former executives at Dewey & LeBoeuf LLP, once the No. 3 legal adviser to banks handling merger deals, were charged with a “blatant” $200 million fraud that spurred the largest law firm bankruptcy in history.

The three, including the chairman, executive director and chief financial officer, were accused of using accounting gimmicks similar to those that sent top executives at WorldCom Inc. and Tyco International Ltd. to prison a decade ago. Authorities cited e-mails in which the men referred to “fake income,” “cooking the books” and “accounting tricks.”

“Fraud is not an acceptable accounting practice,” ManhattanDistrict Attorney Cyrus R. Vance Jr. said today in announcing the charges. “The defendants are accused of concocting and overseeing a massive effort to cook the books” that “contributed to the collapse of a prestigious international law firm.”

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