Marc Dreier

Marc Stuart Dreier
Born (1950-05-12) May 12, 1950 (age 74)
Long Island, New York, US
NationalityAmerican
EducationYale University (BA)
Harvard Law School (JD)
OccupationFormer attorney
EmployerDreier LLP
Known forFraud
Criminal statusIncarcerated
Criminal chargeSecurities fraud
Wire fraud
Money laundering
Penalty20 years imprisonment

Marc Stuart Dreier (born May 12, 1950) is an American former lawyer who was sentenced to 20 years in federal prison in 2009 for committing investment fraud using a Ponzi scheme. He is scheduled to be released from FCI Sandstone on June 30, 2025.[1][2][3] On May 11, 2009, he pleaded guilty in the United States District Court for the Southern District of New York to eight charges of fraud,[4][5] which included one count of conspiracy to commit securities fraud and wire fraud, one count of money laundering, one count of securities fraud, and five counts of wire fraud in a scheme to sell more than $950 million in fictitious promissory notes.[6][7] Civil charges, filed in December 2008 by the U.S. Securities and Exchange Commission, are pending.[6] The 2011 documentary Unraveled states that "Drier stole over $740 million from 4 clients, 4 individuals, and 13 hedge funds".

He is the sole equity partner of the dissolved law firm Dreier, LLP.[8][9][10][11] After Dreier was suspended from the New York Bar on December 23, 2008, the New York Supreme Court formally disbarred him on October 8, 2009, effective nunc pro tunc to May 11, 2009. He had been admitted on May 5, 1976.[12]

  1. ^ Weiser, Benjamin (14 July 2009). "Lawyer Gets 20 Years in $700 Million Fraud". The New York Times. p. A20. Retrieved October 14, 2009.
  2. ^ "Inmate Locator". Federal Bureau of Prisons. Retrieved October 14, 2009.
  3. ^ Burrough, Bryan (November 2009). "Marc Dreier's Crime of Destiny". Vanity Fair. Retrieved October 14, 2009.
  4. ^ "Marc Dreier Pleads Guilty to Fraud" (PDF) (Press release). United States Attorney, Southern District of New York. 11 May 2009. Archived from the original (PDF) on 1 June 2009. Retrieved 22 May 2009.
  5. ^ Weiser, Benjamin (12 May 2009). "Lawyer Pleads Guilty in $400 Million Fraud". The New York Times. p. A23. Retrieved October 14, 2009.
  6. ^ a b Hamblett, Mark (May 12, 2009). "Dreier Pleads Guilty to Fraud Scheme, Remains Free on Bail". New York Law Journal. Retrieved October 14, 2009.
  7. ^ Bray, Chad (April 28, 2009). "Lawyer Marc Dreier to Plead Guilty to Money Laundering". The Wall Street Journal.
  8. ^ "Marc Dreier Indicted for Investment Fraud" (PDF). The Wall Street Journal.
  9. ^ "Government's Sentencing Memorandum" (PDF). The Wall Street Journal.
  10. ^ "Copy of the indictment against Dreier" (PDF). Retrieved May 3, 2011.
  11. ^ Glovin, David (January 29, 2009). "Dreier, Jailed Lawyer, Charged in $400 Million Fraud (Update2)". Bloomberg. Retrieved May 3, 2011.
  12. ^ "Matter of Dreier (2009 NY Slip Op 07209)". www.courts.state.ny.us. Retrieved 29 May 2017.