Dreier To Remain Locked Up For Now

Law360, New York (January 23, 2009, 12:00 AM EST) -- The federal magistrate judge overseeing the case of Marc Dreier has reportedly refused to grant bail, insisting that the disgraced New York attorney post a $20 million bond if he wishes to be set free.

On Thursday, U.S. District Judge Douglas Eaton refused Dreier's request to be released on bail and stood by his requirement that the large bond be signed by financially responsible people, The Wall Street Journal reported.

Dreier’s lawyer, Gerald Shargel, purportedly retorted that his client would likely remain in jail for a...
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