Huffpost Business

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

Posted: Updated:

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 at Daily Telegraph