Marc Dreier’s $400 Million Ponzi Scheme
Below is a very interesting interview by 60 Minutes with Marc Dreier who ran a $400 million Ponzi scheme. Mr. Dreier was a respected, Yale and Harvard educated lawyer who ran a big Park Avenue law firm. He was initially arrested in Toronto for impersonating an officer in a pension fund to get a loan from a hedge fund when his scheme began to unravel.
Mr. Dreier is currently doing 20 years in prison. It’s amazing that he could get away with his scheme for so long and that people were willing to lend him hundreds of millions of dollars without ensuring he was legit and capable of paying the money back.
Video: Marc Dreier’s $400M Ponzi Scheme
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