Friday, January 23, 2009

Update: Dreier Remains In Jail As High Bail Is Set

Marc S. Dreier, 58 and the former founding partner of the Manhattan-based law firm that bears his name, remains in federal custody pending a $20 million bond set by federal Magistrate Judge Douglas F. Eaton in New York. Dreier is accused of bilking hedge funds and investors in a Ponzi-type investment fraud to the tune of $380 million. He has been charged with wire fraud and securities fraud.

Read FraudTalk's original posts on this story here and here.

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