Dreier Trustee Makes $3.5M Deal With Patriot

Law360, New York (March 29, 2013, 10:45 PM EDT) -- Dreier LLP's Chapter 11 trustee on Friday settled for $3.5 million her suit against The Patriot Group LLC — one of several investors in convicted Ponzi schemer Marc Dreier's defunct law firm — in which she had originally sought  $16.7 million.

Trustee Sheila Gowan settled the suit citing the expenses of litigation, after filing her adversary suit against Patriot in August 2010 accusing the Darien, Conn.-based asset funding and real estate finance firm of investing with Dreier despite the warning signs, motivated by potential profits.

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