Dreier, Hot News, Legal Industry, News, Scammers
Prosecutors Seek 145 Years for Dreier
July 9, 2009 by David Feldman · Leave a Comment
Yesterday federal prosecutors told the judge they would like a 145 year sentence for 59-year old admitted swindler old Marc Dreier. As with the 150 year sentence for Madoff, obviously the intention is to ensure that he spends the balance of his life in jail for stealing $400 million from hedge funds and others. The prosecutors told U.S. District Judge Jed Rakoff that Dreier has dishonored the legal profession, according to Reuters.
He was presumably doing well enough running a 250 lawyer firm, but decided to pursue this fraud. Only he has the explanation for this. One also assumes, as with Madoff, that others assisted him, and it is not clear who those folks are yet. Dreier’s lawyer thinks 10-12 years would be sufficient. He acknowledged in a letter to the judge that he deserved a significant sentence. Does he deserve the same as Madoff? I’m not sure how one compares these frankly.
