[BretLudwig]

Penny Ante Stuff

"Prominent NYC lawyer Marc S. Dreier, head of a high-flying 250 lawyer
firm on Park Avenue, was arrested earlier this month for stealing
something like $380 million by selling forged promissory notes from other
institutions to hedge funds by ... pretending to be somebody else.
According to the NYT:

Mr. Dreier was initially arrested in Canada on Dec. 2 after an
elaborate ruse to sell $45 million of the phony promissory notes there
collapsed, according to a Toronto police department document.

After meeting with a lawyer for a teachers pension plan on another
matter and obtaining that mans business card, Mr. Dreier asked to use a
phone and was ushered into a conference room by a secretary, according to
the document. A short time later, he used the room to meet with the
representative of a hedge fund whom he had previously invited to the
offices, and impersonated the lawyer whose card he had just been handed.
But the scheme quickly unraveled, authorities said, when the hedge
fund representative and the secretary felt something was amiss, and Mr.
Dreier was arrested soon after.


By this point, I'm kind of disappointed that this guy only stole $380
million. Now, stealing $380 billion using other people's business cards,
well, that would be impressive. But $380 million in this day and age is
nothing."

http://isteve.blogspot.com/2008/12/p...nte-stuff.html

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