Dewey & LeBoeuf LLP's former chief financial officer has agreed to pay about $95,000 to end the U.S. Securities and Exchange Commission's suit over an alleged scheme to con banks and insurer-investors out of $250 million to keep the doomed firm afloat, the commission said in a request for final approval of the deal Friday.
‘No firm should ever take anything for granted. Dewey & LeBoeuf was a top-end, white-shoe firm and it over-guaranteed and mismanaged.’ Natasha Harrison, Pa
The U.S. Securities and Exchange Commission told a New York federal judge on Friday it has reached a tentative settlement to resolve its claims against Dewey & LeBoeuf LLP's former chief financial officer, who was convicted of fraud, but said the agency needs time to consider the deal.