Marc Dreier Used Financial Crisis To Trick Hedge Funds Out Of $100 Million

A prominent New York lawyer has been charged in a $100 million (£75 million) hedge fund fraud scheme in which he allegedly tricked his way into businesses so he could hold meetings in their boardrooms.

Marc Dreier, 58, whose clients have included the rock star Jon Bon Jovi, took advantage of the financial crisis by selling fake debt to hedge fund managers looking for investment opportunities, say prosecutors.

Read the whole story here.

Comments

[vigilantwarrior]

There are quicker--and better connected--ways to make $100 million.

http://michaelfury.wordpress.com/2008/08/20/the-ghost-in-the-machines-the-mystery-of-the-wtc-hard-drive-recoveries/

[MajorBarbara]

What a sad, desperate slob. And he isn't any different from the bank execs.

[panurse]

another loser to ship up to Alaska-

[Stilts9]

Hey old sports, he's one us, a Harvard alum..

[larry278]

There used to be a saying, "You can't rob an honest man.". I guess that it isn't used much any more & it is never said on Wall St. It won't be long before somebody pulls the stunt of walking down Wall St on a brightly lighted trading day with a lighted battery powered lantern & claims to be looking for an hones person.

[billyfitz]

So how is this clown any different from the bank execs stealing our money via the bailout? They're all thieves, only the bank execs will never see the inside of a jail cell.

[panurse]

yep