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Lawyer Dreier pleads guilty to defrauding hedge funds of more $400 million

May 12, 2009 : Permanent Link

Minneapolis Star Tribune – A Prominent Manhattan lawyer has pleaded guilty to defrauding hedge funds of more than $400 million.

Fifty-eight-year-old Marc Dreier on Monday pleaded guilty to conspiracy to commit securities and wire fraud, securities fraud, wire fraud and money laundering. The charges carry a potential prison term of 30 years to life in prison.

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