Dreier Trustee Sues Asset Fund To Recover $16.7M

Law360, New York (August 25, 2010, 4:39 PM EDT) -- Dreier LLP's Chapter 11 trustee has continued a crusade against companies that invested with convicted Ponzi schemer Marc Dreier's defunct law firm, suing The Patriot Group LLC in an effort to recover almost $16.7 million.

Court-appointed trustee Sheila Gowan filed an adversary complaint Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, alleging Patriot willingly ignored red flags in pursuit of profits.

Patriot, an asset funding and real estate finance firm based in Darien, Conn., lent Dreier $15 million in exchange for...
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