Disgraced attorney Marc S. Dreier is en route to the Federal Correctional Institution in Sandstone, Minn., where he will serve his 20-year sentence for fraud. Ross M. Kramer, an associate of Gerald Shargel, Mr. Dreier’s defense attorney, said Sandstone, a low-security facility for men about 100 miles from Minneapolis, seemed “like a fine place for [Mr.] Dreier to be.”
Mr. Dreier, 59, the sole equity partner in Dreier LLP, pleaded guilty on May 11 to selling more than $700 million in bogus real estate and pension plan notes to investors. At a July 13 sentencing hearing, Southern District Judge Jed S. Rakoff recommended that the lawyer serve his sentence at the Allenwood Federal Correctional Complex in Pennsylvania (NYLJ, July 14) after being temporarily jailed at the Metropolitan Correctional Center. But the Federal Bureau of Prisons ultimately rejected Judge Rakoff’s recommendation and assigned Mr. Dreier to Sandstone. Mr. Kramer said Mr. Dreier remains at a holding center in Oklahoma City and will be transferred when authorities are ready for the move. - Noeleen G. Walder
New Administrate Judge Tapped for Eighth District
