Most notorious financial criminals in contemporary and modern times

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  1. Most notorious financial criminals in contemporary and modern times

     

     

    QUESTION

    Discuss one of the most notorious financial criminals in contemporary and modern times committed by Attorney Marc Dreier. Students must investigate the nature of the crime and eventual outcome (tangible/intangible).

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Subject Law and governance Pages 2 Style APA
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Answer

Attorney Marc Dreier crimes and its outcomes.

 

Introduction.

very clever, an amazing talker, and from an early age, perhaps unsurprisingly, he desired to emerge as a courtroom lawyer. Speak to those who've recognized him the longest and the only fault a few cite was Dreier’s mercenary streak. He became captivating, ambitious, hardworking, and decided to excel. Anyone who knew him, particularly his parents, predicted extraordinary things. (Weiser, 2009)

In November 2008, Dreier grew even greater desperate as he commenced walking out of coins. By then, he became the issue of a US. Attorney's workplace investigation. As matters started out to unravel, he dipped into his clients’ escrow accounts to pay off his debts. He issued $seven-hundred million well worth of notes, and on dec. 1, 2008, one in all his companions issued a habitual request for cash being held in escrow. Of course, it wasn't there. (Parten, 2011)

At a listening to Monday, US. District judge Jed Rakoff in Ny sentenced Mr. Dreier, one-time coping with associate of the Ny regulation firm, to 20 years in the back of bars and to pay $387.7 million in restitution. The decide also indicated he could approve the government's request for $746 million in forfeiture. Mr. Dreier, pleaded responsible to conspiracy, securities fraud, money laundering and five counts of wire fraud in may additionally. He became arrested overdue last year in Toronto after he impersonated some other lawyer in a remaining-ditch effort to continue his fraud. (BURROUGH, 2009)

 

References

BURROUGH, B. (2009, September 29). MARC DREIER’S CRIME OF DESTINY. Retrieved from Vanityfair: https://www.vanityfair.com/news/2009/11/marc-dreier200911

Parten, C. (2011, April 13). Diary of a Scam: The Fall of Power Attorney Marc Dreier. Retrieved from American Greed: https://www.cnbc.com/id/42572204

Weiser, B. (2009, July 13). Newyork Times. Retrieved from Lawyer Gets 20 Years in $700 Million Fraud: https://www.nytimes.com/2009/07/14/nyregion/14dreier.html

 

 

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