Case library · The Con
Fake Notes Sold to Investment Funds
United States v. Dreier (2009)
Charge: Conspiracy to commit securities and wire fraud, securities fraud, wire fraud and money launderingCourt: U.S. District Court for the Southern District of New YorkState: New YorkDocket: The Con
The facts
A lawyer who ran his own law firm sold promissory notes to investment funds. He told buyers the notes had been issued by a property developer and by two foreign institutions. They had not been; he had made them up. To close sales he sometimes posed as executives of the supposed issuers. He raised over $700 million this way. He also took more than $46 million from money his firm was holding on behalf of its own clients.
You have the facts the court had. Guilty or not guilty? Call it in the game with your friends, then see what the court actually decided. Wrong call, you drink.
Citation: United States v. Dreier (S.D.N.Y. 2009)
Read more at justice.gov. The source reveals the outcome.