Lawyer To The Stars Is Going To
Jail

Marc Dreier Is Arrested

Marc Dreier is alleged to have absconded
with up to $380 million in pension fund investments.  A Judge
Douglas Eaton denied bail for Dreier, who, as we write, remains
holed up in the Metropolitan Correctional Center?

According to Wayne State’s Peter Henning, under the Bail Reform
Act of 1984, which governs bail in the federal system, judges are
largely asked to consider two factors in deciding whether to grant
bail: 1) whether the person poses a threat to the community and 2)
whether the person is a flight risk.

Will He Flee To Israel?

According to a reporter over at the federal courthouse in
Manhattan, prosecutors typically don’t oppose bail for
white-collar defendants unless there’s a large amount of money
possibly available overseas to aid flight or the defendant isn’t a
U.S. citizen and doesn’t have strong ties to the U.S.

With
Dreier, however, the situation was different. “At the time he was
arrested, he was in a foreign country trying to impersonate other
people,” says Henning. “I’m not surprised bail was contested.”

Dreier's Lawyer Wants Bail

Under the package proposed by his lawyer,
Gerald Shargel, Dreier would have been held under house
arrest at his home in Quogue, N.Y., on Long Island, under
constant GPS monitoring and the care of two armed private
security guards. His bail would have been $10
million.

The government wasn’t buying it, though.
“Mr. Dreier is the Houdini of impersonation and false
documents,” Assistant U.S. Attorney Jonathan Streeter said
in arguing that he be detained. “He has been fooling some of
the most sophisticated institutional investors in the
world.”

Where Is Abe Foxman?

I would figure he would be outraged by this anti
Semitic persecution.

Dreier Indicted On  1/31/09

New York lawyer Marc S. Dreier was indicted
Thursday on conspiracy and fraud charges for an
alleged scheme to sell fictitious promissory notes to
hedge funds and misappropriate client funds, costing
investors and others more than $400 million. 9

article

Judicial Index