By the time indicted attorney Marc S. Dreier was arrested in December, his days of living the high life already had come to an end, according to court papers made public Wednesday.
The “facts suggest that as of September or October 2008, Dreier had largely run through the cash under his control and was relying on additional sales of fictitious notes to pay overdue bills, replenish stolen escrow funds, and maintain the extravagant lifestyle that his crimes had made possible,” according to a report submitted by Mark F. Pomerantz, receiver for Dreier’s assets in Securities and Exchange Commission v. Dreier, 08 Civ. 10617.
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