Marc S. Dreier intends to plead guilty on May 11 to all counts in the indictment charging him with stealing hundreds of millions of dollars from hedge funds and individuals, his attorney said at a hearing on Monday. Seven counts against Dreier -- alleging securities and wire fraud and money laundering -- each carry potential sentences of 20 years in prison, while an eighth charge, of conspiracy, carries a five-year term. In deciding to plead guilty, Dreier is effectively asking for the court's mercy.
Dreier to Plead Guilty to All Charges, Attorney Says
New York Law Journal
April 28, 2009