BUSINESS
01/08/2009 05:12 am ET Updated May 25, 2011

Marc Dreier, Manhattan Lawyer, Busted For Impersonation In Canada

Let's get you up to speed on what we know about the situation involving New York City lawyer Marc Dreier. One thing's for sure: it's strange and murky.

First things first. Dreier, who heads the prominent, 250-lawyer Dreier LLP, was arrested Tuesday in Toronto for allegedly impersonating another individual. The alleged offense took place during a meeting between the Ontario Teachers' Pension Plan and private-equity firm Fortress Investment Group. According to the New York Times, Dreier was accused of impersonating Michael Padfield, a lawyer for the Ontario Teachers' Pension Plan. What's still unclear is why Dreier was there, or what the meeting involved in the first place.

After learning of "fraudulent behavior," Ontario Teachers' said in a statement, "we immediately alerted the police." The pension plan declined to elaborate, including whether it was represented by Dreier. Similarly, a statement released by Fortress says: "While visiting Ontario Teachers' offices on Tuesday afternoon, a Fortress employee observed suspicious behavior by an individual and immediately alerted Ontario Teachers' staff. We continue to cooperate with law enforcement."

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