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Dreier Investor Settles Ponzi Scheme Claims For $32M

Law360, New York (October 15, 2014, 1:54 PM EDT) -- Westford Asset Management LLC has agreed to pay $32.2 million toward the Dreier LLP bankruptcy estate to settle claims that it reaped $137 million in tainted investment proceeds from the Ponzi scheme run by the Park Avenue law firm’s founder, who will stay in prison instead of testifying.

The settlement, announced in open court on Thursday, resolves the last significant dispute in the Chapter 11 case, which began in 2008 when the firm’s founder Marc Dreier was arrested under bizarre circumstances in Toronto and copped to...
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Case Information

Case Title

Dreier LLP


Case Number

1:08-bk-15051

Court

New York Southern

Nature of Suit

Date Filed

December 16, 2008

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