Law firm founder Marc Dreier sentenced to 20 years in prison

July 15, 2009 Marc Dreier, founder of 250-lawyers firm Dreier LLP, was sentenced to 20 years in prison yesterday after pleading guilty to defrauding investors and clients of $700 million of dollars by claiming he was authorized to sell promissory notes issued by Manhattan real estate developer Sheldon Solow.

U.S. District Judge Jed Rakoff in Manhattan said the 59-year-old lawyer, educated at Harvard and Yale, has a life expectancy of another 21 years. He also ordered Dreier to pay $387.7 million in restitution.

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