Attorney Marc S. Dreier said "guilty" eight times but remained free on bail after admitting yesterday evening to selling fictitious promissory notes in a scheme that ripped off investors of hundreds of millions of dollars and ended with the implosion of his 250-member law firm. Southern District Judge Jed S. Rakoff said that allowing Mr. Dreier to remain free pending his July 13 sentencing was a close call in a case where Mr. Dreier "has disgraced the honorable profession of law."
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Dreier Pleads Guilty to Fraud Scheme, Remains Free on Bail
New York Law Journal
May 12, 2009
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