New York City lawyer Marc Dreier has pleaded guilty to defrauding hedge funds for more than $400 million. Six months ago, the SEC charged Dreier with several counts of fraud for selling bogus promissory notes. The founder and managing partner of law firm Dreier LLP faces a maximum of 145 years in prison plus forfeiture of all his illegally obtained assets.
See the New York Times report:
http://www.nytimes.com/2009/05/12/nyregion/12dreier.html?em
Tuesday, May 12, 2009
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