Dreier Update: SEC Receiver Appointed; Dreier May Have Transfered Funds While in Canadian Prison

A couple articles last night provided additional details on the quickly-developing and puzzling Marc Dreier story.

First, the New York Law Journal reports that Judge Miriam Goldman Cedarbaum of the SDNY, who is handling the SEC’s complaint against Dreier, said she will appoint Mark Pomerantz of Paul Weiss Rifkind Wharton & Garrison as receiver to protect Dreier LLP’s assets.

Second, the NY Times reports that, improbably, Dreier’s efforts to enrich himself

apparently did not end with his arrest, according to authorities. In a hearing on the S.E.C. action, which immediately followed the arraignment, a lawyer for the commission told Judge Miriam G. Cedarbaum of Federal District Court that Mr. Dreier “did attempt and may have transferred assets” while he was jailed in Canada last week. But the lawyer, Nancy Brown, would not elaborate.

The NY Times article also notes that AUSAs Raymond J. Lohier and Jonathan R. Streeter are prosecuting the criminal case against Dreier in the SDNY, and Dreier’s lawyer is Gerald L. Shargel.

Read the NYLJ article

Read the NY Times article

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