Dreier May Have Stolen $38M In Client Funds: SEC

Law360, New York (December 10, 2008, 12:00 AM EST) -- Even as he sat in a Canadian jail last week on criminal impersonation charges, Dreier LLP founder Marc S. Dreier attempted to transfer millions of dollars in bankruptcy client funds from his firm's escrow accounts to his personal account, federal regulators said in court filings. Dreier is also facing a Wachovia Bank suit over an alleged $9 million in loan defaults.

Dreier, who has been jailed in the U.S. on federal fraud charges, told a partner last week he had misappropriated about $38 million from client...
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