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Business Crimes Hotline
NEW YORK
SEC Settles with Controller in Dewey LeBoeuf Case
Southern District Judge Valerie Caproni has approved a partial settlement between Dewey & LeBoeuf's former controller, Thomas Mullikin, and the Securities & Exchange Commission (SEC).
The SEC sued Mullikin and four ex-leaders of the defunct law firm, including Francis Canellas and attorneys Steven Davis, Stephen DiCarmine and Joel Sanders. The March 2014 suit was filed at the same time the Manhattan District Attorney's office brought criminal charges against Davis, DiCarmine and Sanders. Mullikin and Canellas have pleaded guilty to criminal charges and could be witnesses at trial.
The SEC action, which has been stayed pending the criminal case, accuses the five defendants of orchestrating an accounting fraud intended to conceal Dewey's precarious financial position, unbeknownst to investors who had purchased bonds issued by Dewey.
After leaving Dewey, Mullikin worked until recently as controller at Paul, Weiss, Rifkind, Wharton & Garrison. In papers filed on Sept. 16, he consented to the entry of judgment that permanently enjoins him from future violations of securities laws; resolves all liability issues concerning him and leaves open resolution of the SEC's requests for monetary relief, which the commission could pursue at a later date, according to a letter by SEC attorney William Finkel.
The partial settlement did not include financial terms. If the SEC recommends it, the court will determine whether it is appropriate to order disgorgement of ill-gotten gains or a civil penalty, and the amount of the penalty. Mullikin is precluded from arguing he did not violate the federal securities law.' Christine Simmons, New York Law Journal
BIO HERE
SEC Settles with Controller in
Southern District Judge Valerie Caproni has approved a partial settlement between
The SEC sued Mullikin and four ex-leaders of the defunct law firm, including Francis Canellas and attorneys Steven Davis, Stephen DiCarmine and Joel Sanders. The March 2014 suit was filed at the same time the Manhattan District Attorney's office brought criminal charges against Davis, DiCarmine and Sanders. Mullikin and Canellas have pleaded guilty to criminal charges and could be witnesses at trial.
The SEC action, which has been stayed pending the criminal case, accuses the five defendants of orchestrating an accounting fraud intended to conceal Dewey's precarious financial position, unbeknownst to investors who had purchased bonds issued by Dewey.
After leaving Dewey, Mullikin worked until recently as controller at
The partial settlement did not include financial terms. If the SEC recommends it, the court will determine whether it is appropriate to order disgorgement of ill-gotten gains or a civil penalty, and the amount of the penalty. Mullikin is precluded from arguing he did not violate the federal securities law.' Christine Simmons,
BIO HERE
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