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In the Courts

By ALM Staff | Law Journal Newsletters |
February 23, 2009

Marc Dreier Granted Bail Under Strict Conditions

Well-known lawyer and financier Marc Dreier, who has been charged with stealing millions from clients and investors, was granted bail by U.S. District Judge Jed S. Rakoff. See United States v. Dreier, — F.Supp.2d —-, No. 09 Cr. 085, 2009 WL 277096 (S.D.N.Y. Feb. 5, 2009) (Order granting bail application). Dreier has been accused of using millions of dollars in clients' funds to pay for his lavish lifestyle. Rakoff rejected the government's suggestion that Dreier should be denied bail and confined in the Metropolitan Correctional Center. Instead, Dreier will be permitted to reside in his East Side apartment in New York City under constant surveillance by an armed, private security guard.

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