find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Top-tier managing partner faces prison

Top-tier managing partner faces prison

A one-time managing partner has been sentenced to 20 years in prison by a court.

A one-time managing partner of Dreier LLP has been sentenced to 20 years in prison by a New York court. 

Disgraced lawyer, Marc Dreier, was found guilty of planning a scheme to sell US$700 million (AUD$900m) in fake promissory notes and steal client funds, writes the Dow Jones Newswire. 

US district judge, Jed Rakoff, sentenced Dreier to 20 years, meaning he will be 79 when released. 

Judge Rakoff also ordered Dreier to pay $387.7m (AUD$500m) in restitution and indicated he would approve the government's request for $746m (AUD$961m) in forfeiture. 

Dreier, pleaded guilty to conspiracy, securities fraud, money laundering and five counts of wire fraud in May in a scheme that duped hedge funds and other investors into making investments in hundreds of millions of dollars in fake promissory notes, or loans. 

Prosecutors from the U.S. attorney's office in Manhattan had asked Dreier be sentenced to 145 years in prison, while Dreier  had asked for a sentence of 10 years to 12 years in prison. 

The sentencing marks the end of a stunning fall for Dreier, who started his own law firm in 1996 and grew the firm to about 270 lawyers with offices in New York, Los Angeles and Pittsburgh in the months before the scheme collapsed last year. 



Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Top-tier managing partner faces prison
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...