US authorities today charged five former executives with international firm Dewey & LeBoeuf for their part in an alleged $150m (£90m) fraudulent bond offer.

The Securities and Exchange Commission (SEC) alleges that the five turned to accounting fraud 'in a desperate grasp for cash' to survive the 2008 financial crisis. The New York-based firm, which employed more than 1,000 lawyers, filed for bankruptcy in May 2012 after experiencing financial difficulties.

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