The luxury Manhattan apartment of disgraced attorney Marc Dreier was sold at auction Tuesday for $8.2 million, about $2 million less than the $10.43 million he paid in 2007. The sale came just one week after Dreier was sentenced to 20 years in prison for orchestrating a Ponzi scheme that fleeced more than $400 million from clients of Dreier LLP and investors to whom he sold bogus promissory notes. A source said the winning bidder is Ajit Jain, head of the reinsurance business of Berkshire Hathaway.
Dreier's Apartment Fetches $8.2 Million at Bankruptcy Auction
New York Law Journal
July 22, 2009