Jane Boisseau was giving evidence at the fraud trial of three former members of the executive committee. She asked to be refunded $621,000 in equity capital when she retired - although the partnership agreement said it could be repaid over three years. She was told by one of the three on trial, ex-chair Steven Davis, that the firm would pay interest and charges on the sum - as she had raised the money through a bank loan. The firm did not, however, pay the bank - and Ms Boisseau did this herself.

Cash flow 

She received a further setback in 2010 when the firm started including the return of capital as capital income. This meant that she recevied $295,000 in income when she had expected to receive $1.35m. A memo she received from another of the three men on trial, ex-CFO Joel Sanders, showed that the firm was slipping back on its payments to partners - with some $140m due for 2008 earnings coming out of 2009 income. 

Earnings of $2m pa

The prosecutor in the case said that two of the three on trial, Mr Sanders and ex-executive director Stephen DiCarmine, did not suffer financially in this period - both earning over $2m a year between 2008 and 2011. The firm filed for bankruptcy in 2012. Source: ABA