20 years for Marc Dreier?
Judge Rakoff (United States Federal District Court) in Manhattan sentenced Marc Dreier to 20 years in prison yesterday.
Marc Dreier, the sole equity and name partner of his now defunct law firm, plead guilty to a myriad of theft and fraud charges earlier this year. Dreier’s own lawyer summed up his client’s behavior as a fraud “of epic proportions.”
While the judge didn’t appear to take pity on Dreier, he did note that Dreier’s wrongdoing did not rise nearly to the level of Bernard Madoff’s (who received 150 year sentence only recently). It’s hard not to compare these two formerly wealthy, powerful New Yorkers whose fraud was uncovered only months apart. However, does all punishment have to measured now on the Madoff scale? Would Dreier have received a harsher sentence if he were not sentenced on the heels of Madoff? I wonder whether the enormity of Madoff’s scheme paled Dreier’s crimes in comparison. Does Marc Dreier owe Bernie Madoff a thank you note?
View original here: Lateral Attorney Report