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Keyword: marcdreier

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  • Feds Now Say Dreier Bilked Investors Of $380 Million

    12/13/2008 2:49:10 AM PST · by TheMole · 13 replies · 1,236+ views
    Forbes ^ | 12.11.08, 2:25 PM ET | Liz Moyer
    Prosecutors have expanded their investigation of prominent New York attorney Marc Dreier, uncovering hundreds of millions more of missing funds in what they characterize as an "extraordinary" fraud played out over two years. A federal magistrate judge ordered Dreier to remain behind bars Thursday, denying bail because of the "enormous risk of flight." Dreier was arrested in New York Sunday evening and has been charged with fraud in an alleged brazen scheme to bilk sophisticated hedge funds.Assistant U.S. Attorney Jonathan Streeter said in court Thursday the loss from the alleged fraud is $380 million, well more than the $113 million...