The leadership of The Source’s publisher’s former law firm is in some big trouble

Accounting gimmicks. They sound a lot less intimidating when you say it like that, but they’ve been the demise of many extremely profitable, lucrative American companies. Enron? The Lehman Brothers? They appeared to be infallible institutions until they too tried to get away with “accounting gimmicks”.

Now, several leaders from Dewey & LeBoeuf, one of the largest law firms in U.S. history, have been indicted by a grand jury that states D&L used such accounting gimmicks as a smokescreen to solicit millions of dollars in funding from banks and investors as they actively attempted to keep their company above water.

The Source’s owner and pubisher, Londell McMillan, was a former partner at Dewey & LeBoeuf (after merging firm, The McMillan Firm, into D&L) and upon hearing the news of the indictments released this official comment to us:

This is a sad and ugly day because some of these people are people I cared for and trusted. However, the firm’s schemes caused many of us troubles that are costly. The irony of it all is that even after the law firm collapse, the Trustees of this firm and their bankers continue to seek large financial sums from us due to wrongful acts of the firm’s leaders who are now indicted. White-collar crime is still a crime. Some capitulated, but I am fighting back! No matter how big you get, you can always fall hard… Justice will be served.

McMillan’s comments illuminate the horrid acts of D&L, and especially considering America’s tainted history with large an powerful corporate corruption–whether it be the circus act that was Bernie Madoff’s scheme or Enron’s scandal–its appalling that companies with whom American citizens place their trust continue to believe they can get away with colossal wrongdoings.