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Marc Dreier’s $10 Million Apartment to be Auctioned Off Today
Marc Dreier’s Manhattan apartment $10.4 million Midtown Manhattan condominium, where he recently served his “(Pent)House Arrest,” is scheduled to be auctioned at 1 pm today, along with its contents. As previously discussed here, on July 13, U.S. District Judge Jed Rakoff sentenced Marc Dreier to 20 years in prison. Dreier pleaded guilty in May to [...]
Marc Dreier Sentenced to 20 Years in Prison
In the Southern District of New York yesterday, U.S. District Judge Jed Rakoff sentenced Marc Dreier to 20 years in prison.
Reuters reports that in handing down his sentence, Judge Rakoff stated that “when you turn to the facts of the crime that Mr. Dreier committed, one must still be appalled. It is a huge fraud [...]
Be Careful Asking for 12 Years… The Last Guy Who Did That Got 150 Years
In advance of his sentencing hearing scheduled for Monday, Marc Dreier has filed papers with the court seeking a sentence of no more than 12 ½ years in prison (sound familiar?). The WSJ Law Blog reports that under the federal sentencing guidelines, Dreier faces a possible sentence of up to 145 years.
In his Memorandum in [...]
Dreier Pleads Guilty, Remains Under (Pent)house Arrest Pending Sentencing
In federal court in Manhattan yesterday, attorney Marc Dreier pleaded guilty to charges that he carried out an outrageous fraud scheme that defrauded hedge funds and other investors out of at least $400 million. The NYT reports that according to prosecutors, Dreier, a graduate of Yale University and Harvard Law School, sold $700 million worth [...]
Dreier Receiver to Seek $1.4 Million in Fees
The bill for the court-appointed receiver and his attorneys in the SEC’s case against Marc S. Dreier is in. Mark Pomerantz said he expects to seek $150,000, while his counsel at Paul Weiss will ask for approximately $1.25 million for their four months of work. The NY Law Journal reports that Paul Weiss is accepting [...]
Dreier’s Lawyers Indicate He is Likely to Change Plea to Guilty
Lawyers for Marc Dreier advised U.S. District Judge Jed Rakoff (SDNY) yesterday that Dreier is likely to change his plea to guilty in the case against him. Prosecutors allege that Dreier sold $700 million in phony securities to hedge funds.
The AP reports that the defense announcement came at a hearing yesterday where Marc Dreier pleaded [...]
Dreier LLP Ordered to Vacate Manhattan Offices by March 4
Under a stipulation filed Thursday in the Chapter 11 proceeding against Dreier LLP, the firm must vacate its mid-town Manhattan offices by March 4. The stipulation does permit a skeleton staff to wind up the affairs of the now-bankrupt Dreier LLP, the NY Law Journal reports.
Under the stipulation, If the offices are not vacated by [...]
(Pent)House Arrest, Marc Dreier Edition
We haven’t seen a professionally-produced video of the prison/apartment where Bernard Madoff is currently under (pent)house arrest, but how much nicer can it be than the prison/apartment where Marc Dreier will now reside until the trial in his pending prosecution?
Cityfile reports that it has found a Prudential Douglas Elliman video tour of Dreier’s One Beacon [...]
Bankruptcy Court Identifies Marc Dreier’s Hedge Fund Victims
The bankruptcy court handling the Marc Dreier matter named roughly 20 hedge funds worldwide as the latest identified victims of Dreier’s alleged $400 million investment fraud.