Tuesday, March 17, 2009
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.