145-Year Term Sought For Lawyer In Fraud


Will the trend continue on long white-collar crime sentences after the 150-year term imposed on Ponzi schemer Bernard Madoff? Federal prosecutors yesterday asked a judge in New York City for a 145-year sentence for Marc Dreier, the prominent lawyer who pleaded guilty to an elaborate scheme in which hedge funds and other investors and clients lost more than $400 million, the New York Times reports.

Federal Judge Jed Rakoff has said Dreier “ranked with those who have committed some of the most egregious frauds in history.” Dreier’s attorney, Gerald Shargel, sought a term of 10 to 12 1/2 years, saying, “We appeal not to sympathy but to reason.” The sentencing is set for next Monday.

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