Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, March 17, 2009

Prosecutors Allege Lawyer Sold $700 Million in Phony Notes

You'll recall that New York attorney Marc Dreier was indicted in January on charges that he sold fictitious promissory notes to investors.  Federal prosecutors recently amended the indictment to up the amount of the alleged fraud.  They now allege that he sold $700 million in notes from 2004-08, mostly to hedge funds.  WSJ, Lawyer Defrauded Investors out of $700 Million, Say Prosecutors.

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