Dewey management accused of ‘running Ponzi scheme’ in lawsuit brought by ex-partner By Catrin Griffiths 14 June 2012 12:13 17 December 2015 12:56 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Gobbsmacked 14 June 2012 at 13:19 When I heard the phrase ‘Ponzi scheme’ used to describe the fiasco a Dewey some weeks ago, I first took it with a pinch of salt. After reading the evidence contained in the complaint from Henry Bunsow it is hard not to see the Dewey partnership system, at least in its dying days, really as a true Ponzi scheme. Quite incredible that such a prestigious firm could fall so low. Reply Link Anonymous 14 June 2012 at 14:45 Where can we get a copy of said complaint? Link please (assuming it is online)? Reply Link Anonymous 14 June 2012 at 14:50 It’s like no ponzi scheme I’ve ever heard of – each ‘victim’ gets a guaranteed £3.2m dolla a year. Oh to be a victim. Reply Link Anonymous 14 June 2012 at 15:00 Oh dear… an interesting perspective… http://www.scribd.com/doc/96985827/Bunsow-Complaint Reply Link Anonymous 14 June 2012 at 15:07 For those who want the essentials, skip to para 24. Un-be-lievable….. Reply Link Anonymous 14 June 2012 at 16:02 WOW Reply Link The Lawyer 14 June 2012 at 16:06 A copy of the complaint is now embedded in the article but for ease, see here: http://www.thelawyer.com/pdfs/TheLawyer_Bunsow_Complaint.pdf Reply Link Anonymous 14 June 2012 at 16:30 The identified defendants may not be the only ones dragged into this law suit. Does anyone know how to spell RICO? Reply Link Anonymous 14 June 2012 at 16:50 If it is the case, as this alleges, that Davis withdrew his capital when ousted as chairman: what a scumbag. If he managed to get his capital out, did any of the other ringleaders manage to do the same? Reply Link Anonymous 14 June 2012 at 17:10 I hope Anon @ 2.50pm is being facetious. If not I have a great investment opportunity for them with huge guaranteed returns for a small (large) unsecured downpayment… Reply Link Anonymous 14 June 2012 at 19:26 Ponzie scheme it is! Even partners who left Dewey in 2006-2008 never got their capital repaid, although it should have been repaid within 3 years. It is now clear that the capital was used to pay Dewey’s management their guarantees and there was no intention on the part of the likes of Davis, DiCarmine, Kessler & Co to ever pay the capital back. RICO is the word. Reply Link Anonymous 15 June 2012 at 14:26 Wouldn’t you be put on notice that something was wrong if reported PEP was $2m (even if inflated) and they were offering you a guaranteed $5m. How many others are taking home more than the average? You don’t need a lot more information before it doesn’t add up. Reply Link Anonymous 15 June 2012 at 15:17 Sorry, but OMG! This is a must read complaint. And how is it credible that he was guaranteed $5 million a year? The question that jumps out for me is, if Dewey was run like this, could it really be the only firm which made “aggressive” promises to attract laterals? In the uncoming downturn, as the tide recedes, we may see others who have also been swimming sans bathers. Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.