Thursday, October 8, 2009

Dreier Disbarred

In the wake of hisVanity Fair profile, Marc Dreier was disbarred by the New York Appellate Division for the Second Judical Department:

Here, respondent's admitted misconduct with respect to his convictions: (1) for securities fraud under 15 USC §§ 78j(b) and 78ff; and (2) for conspiracy to commit securities fraud, in violation of 18 USC § 371, have been held to correspond to the misconduct which would constitute a violation of New York's insider trading statute, General Business Law § 352-c(5) and (6). As respondent's criminal offenses, if committed under New York law would constitute felonies, they are a proper predicate for automatic disbarment (see, Matter of Rosenthal, supra, 64 AD3d at 18; Matter of Olesnyckyj, 43 AD3d 167 [2007]; Matter of Appell, 27 AD3d 81, 83 [2006]).

Accordingly, the Committee's petition should be granted and respondent's name stricken from the roll of attorneys pursuant to Judiciary Law § 90(4)(a) and (b) upon the ground that respondent has been disbarred as a result of his convictions of federal felonies that would constitute a felony under New York law.

(Mike Frisch)

Bar Discipline & Process | Permalink

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