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.