Dreier Trustee Seeks $28M From Collapsed Hedge Fund

Law360, New York (August 10, 2010, 6:56 PM EDT) -- The Chapter 11 trustee for huckster Marc Dreier’s former law firm, Dreier LLP, has filed suit against Amaranth LLC to recover over $28 million that was allegedly transferred to the hedge fund in the last throes of Dreier’s Ponzi scheme.

The complaint, filed Monday by court-appointed trustee Sheila Gowan in the U.S. Bankruptcy Court for the Southern District of New York, revolves around fraudulent promissory notes with excessive interest rates that Amaranth purchased through Dreier LLC and repeatedly rolled over as the law firm spiraled toward...
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