Case File
Hedge Fund Imposter
- The Attorney
- It's December 2008. The financial markets are in turmoil but super lawyer Marc Dreier appears to float above it. He's the sole owner of Dreier LLP, a 500-person law firm with offices on New York's Park Avenue.
- The Law Firm
- Marc Dreier's law firm is based on a new model where the attorneys are not equity partners. Instead he offers them generous salaries and commissions on new businesses. But there's a catch…Dreier is the only person in control of the finances.
- The Lifestyle
- He appears to make money out of thin air. Dreier owns yachts, extravagant homes, priceless art and expensive cars. He needs more money to expand his law firm and keep up his extravagant lifestyle.
- The Scam
- He comes up with a plan to sell fake promissory notes – IOU's to hedge funds. He issues $200 million worth of notes to hedge funds in New York and Connecticut. For six years he enjoys the fruits of his "success" … but Marc Dreier's life is about to implode.
