At the end, when his longtime client had found out about the phony promissory notes and the auditor’s lawyer was threatening to turn him in, when the client escrow accounts had been plundered and the hedge funds had figured out the scam, when he had to come up with money for the hundreds of people he’d persuaded to work for him and there was nothing left to pay them with, when the houses in the Hamptons and the restaurant in Los Angeles and the condo in Anguilla and the yacht and the cars and the art collection were about to be exposed as mere props in the stage set of his life — when the inevitable had finally arrived — Marc Dreier was ready to give up.
On Dec. 2, when officials at the Ontario Teachers’ Pension Plan told Dreier that they’d reported him to the Toronto police for pretending to be a pension fund executive in an attempt to fleece yet another hedge fund, he could have tried to flee. Dreier had a private plane waiting for him at the Toronto airport. He had friends in Italy and Turkey, clients in Argentina and the Middle East. And he knew that in New York, everything was unraveling. For months he’d been on a desperate, manic tear, trying to keep the show going. But in Canada he knew it was over.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
