The New York Law Journal by Mark Hamblett - July 8, 2009
The lines have been drawn for Monday’s sentencing of attorney Marc Dreier for defrauding hedge funds and other victims of more than $400 million through a series of schemes over a seven-year period. Defense attorney Gerald L. Shargel, in papers filed yesterday, makes a direct appeal to Southern District Judge Jed S. Rakoff for a sentence that is "both rational and proportionate"—a non-guidelines sentence somewhere between 10 years and 1 month and 12 years and 7 months in prison. Assistant U.S. Attorney Jonathan R. Streeter has another number in mind in his own sentencing memorandum—145 years in prison, or, in the alternative, "a term of years that would both assure that Dreier will remain in prison for life and emphatically promote general deterrence." Mr. Streeter puts the total amount of Mr. Dreier’s frauds at $740 million, the amount of money that cycled through Mr. Dreier’s own accounts or was stripped from attorney escrow funds over which he had total control at his now-defunct firm, Dreier LLP. "With all of the advantages conferred by a comfortable upbringing, Harvard and Yale educations, and a solid start in the legal profession, Dreier could have pursued a rewarding and productive life as a lawyer, serving clients and the law, with compensation in the top few percent of the general population," Mr. Streeter writes. "Instead, Dreier decided to seek vast personal riches and prestige through a life of fraud and through dishonor to his profession."
Mr. Shargel said Mr. Dreier’s punishment "has already begun" because he has been public disgrace and vilification, the loss of his law firm and all of his possessions and "the shame and suffering that his actions have brought upon his family." "As colossal frauds capture national headlines, sentences for white-collar offenders must not be disproportionately long," Mr. Shargel writes. "In many ways, the goals of sentencing embodied in 18 U.S.C.§3553(a) have suffered collateral damage in the war on white collar crime." Mr. Dreier will be sentenced just two weeks after Bernard L. Madoff received 150 years in prison for orchestrating the largest Ponzi scheme in history, which defrauded investors of more than $13 billion. Mr. Dreier, 59, pleaded guilty May 11 to one count of conspiracy to commit securities fraud and wire fraud, one count of money laundering, one count of securities fraud and five counts of wire fraud. (NYLJ, May 12). He has remained under house arrest his Manhattan apartment since Judge Rakoff accepted his plea and said Mr. Dreier "has disgraced the honorable profession of law." His sentencing hearing is scheduled for 5 p.m. Monday.
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I think the judges hands are tied if he does not give Dreier a sentence like Madoff it would say that thier is a double standard for lawyers that voilate the law.
ReplyDeleteYou caould say that he also violated laws of the court and give him more time than Madoff.
I say give him a 200 years in prison. I hope Dreier an Madoff get the same prison that others get. They should not do what they did to Martha Stewart, throw her in a country club.
Throw Madoff and Dreier with the regular convicts in a regular prison with the car thief, drug dealers, murderes and rapist.
I agree with the above, but if Marc would spill the beans about the money exchanged between the judges and lawyers and all, then hell, I say, let him go free!!
ReplyDeleteIf he talks he walks
ReplyDeleteDreier can make sure he has other lawyer "cockroaches" as companions with him in jail; he needs only open his mouth.
ReplyDeleteI am suprised the Blog did not relate the Dreier case to the Iviewit matters at the heart of the corruption in New York and directly tied to schemes like Madoff, Dreier, etc.
ReplyDelete--
MADOFF + STANFORD + DREIER + SATYAM + FISERV + ALBERT HU + The 1031 Tax Group LLC - Edward H. Okun = PROSKAUER ROSE & FOLEY & LARDNER
Foley & Lardner partner Patricia J. (Trish) Lane represented FISERV, sue Foley, read on.
Investors who have been burned in these scams should start to seek redress from the lawyers who were involved with these scams. I personally have been trying to notify regulators and authorities of a ONE TRILLION DOLLAR scam that is putting states like New York and Florida at huge risk, as well as, companies like Intel, Lockheed, SGI and IBM. The states and companies involved in the fraud fail to acknowledge the risk exposing shareholders and citizens to impending liabilities. Investigators, courts and federal agents ignoring the crimes and evidence, including a car-bombing attempt on my life. I know how Harry Markopolos felt trying to expose Madoff in a world without regulation.
Did I hear Proskauer Rose is involved in Madoff (involved many clients too) and acted as Allen Stanford's attorney. Investors who lost money in these scams should start looking at the law firm Proskauer's assets for recovery. First, Proskauer partner Gregg Mashberg claims Madoff is a financial 9/11 for their clients, if they directed you to Madoff sue them. Then, Proskauer partner Thomas Sjoblom former enforcement dude for SEC and Allen Stanford attorney, declares PARTY IS OVER to Stanford employees and advises them to PRAY, this two days before SEC hearings. Then at hearings, he lies with Holt to SEC saying she only prepared with him but fails to mention Miami meeting at airport hanger. Then Sjoblom resigns after SEC begins investigation and sends note to SEC disaffirming all statements made by him and Proskauer, his butt on fire. If you were burned in Stanford sue Proskauer.
Proskauer Rose and Foley & Lardner are also in a TRILLION dollar FEDERAL LAWSUIT legally related to a WHISTLEBLOWER CASE also in FEDERAL COURT. Marc S. Dreier, brought in through Raymond A. Joao of Meltzer Lippe after putting 90+ patents of mine in his own name, is also a defendant in the Federal Case.
The Trillion Dollar suit according to Judge Shira Scheindlin is one of PATENT THEFT, MURDER & A CAR BOMBING. For graphics on the car bombing visit www.iviewit.tv.
The Federal Court cases
United States Court of Appeals for the Second Circuit Docket 08-4873-cv - Bernstein, et al. v Appellate Division First Department Disciplinary Committee, et al. - TRILLION DOLLAR LAWSUIT
Cases @ US District Court - Southern District NY
(07cv09599) Anderson v The State of New York, et al. - WHISTLEBLOWER LAWSUIT
(07cv11196) Bernstein, et al. v Appellate Division First Department Disciplinary Committee, et al.
(07cv11612) Esposito v The State of New York, et al.,
(08cv00526) Capogrosso v New York State Commission on Judicial Conduct, et al.,
(08cv02391) McKeown v The State of New York, et al.,
(08cv02852) Galison v The State of New York, et al.,
(08cv03305) Carvel v The State of New York, et al., and,
(08cv4053) Gizella Weisshaus v The State of New York, et al.
(08cv4438) Suzanne McCormick v The State of New York, et al.
( ) John L. Petrec-Tolino v. The State of New York
The system has to shut this down fast. Marc has been told what to do.
ReplyDelete