Bloomberg – Marc Dreier, the New York lawyer accused of cheating hedge funds, lost part of the $380 million that prosecutors say he stole in failed investments and used the rest to repay the funds, cover his firm’s expenses and buy property, he said.
Dreier, who is being held in jail on fraud charges, yesterday filed a new request for bail. As part of the request, Dreier detailed assets he owns including 150 pieces of artwork and numerous cars and homes. He and his lawyer, Gerald Shargel, also outlined how Dreier used the money the government says he stole.
