Marc Dreier may be getting bumped from the spotlight pretty quickly. “Legendary” trader Bernard Madoff had been charged by the SEC with absconding with more than $17 billion (yes, “billion with a B”) of his hedge fund clients’ money. The whole thing was reportedly a giant (to massively understate things) Ponzi scheme. Clusterstock is keeping a running list of the purported victims.
I was pretty impressed with Dreier’s chutzpah, but Madoff just brought swindling to a whole new level.
No BigLaw connection yet, but I expect some of the hedge funds, if not the defendant, will be retaining our colleagues presently.
Previously: No Bail for Dreier
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