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Lawyer in $700M fraud to plead guilty

New York Daily News – Marc Dreier will plead guilty to all charges stemming from the $700 million investment fraud he is accused of carrying out, his lawyer said Monday.

Defense lawyer Gerald Shargel said Dreier will enter the plea May 11 to securities fraud, wire fraud and money laundering charges. He wants to accept responsibility and show his remorse, Shargel said.

Until December, Dreier had led a law firm with 250 lawyers and celebrity clients, including Jay Leno and ex-New York Giants star Michael Strahan. He was arrested after hedge funds complained he was stealing from them.

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