Noted patent lawyer Henry Bunsow has a major beef with the leaders of his old firm Dewey & LeBoeuf.The ex-Dewey partner hit the bankrupt firm’s leadership with a fraud suit on Tuesday, claiming they conspired to hide its financial state to lure high-quality partners to the firm.
Bunsow claims Dewey, which went belly up in May, recruited him in 2010 and fed him bogus financial stats to get him to join the firm.
The firm’s leaders neglected to tell Bunsow that it was $300 million in debt, he said.
Steven Davis – the firm’s ex-chairman being investigated by New York prosecutors – also neglected to disclose that he and the other Dewey leaders were really “running a Ponzi scheme,” the suit said.
Those partners were trying to enrich themselves, asking other partners to make capital contributions that they would never really get back, the suit said.
Bunsow has had tough luck in recent years, as he served as vice-chair of the law firm Howrey before its own spectacular collapse in 2011.
Bunsow declined to comment on the suit, according to the American Lawyer, which first reported the news Wednesday.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.