Shargel says Dreier wants to enter the plea to demonstrate his acceptance of responsibility and his profound remorse.
Until December, Dreier had led a law firm with 250 attorneys and celebrity clients. He was arrested after hedge funds complained he was stealing from them.
Prosecutors say the 58-year-old could face a maximum of 30 years to life in prison.
Tuesday, April 28, 2009
Marc Dreier to Plead Guilty
According to the defense counsel for Marc Dreier, a prominent New York City attorney accused in a $700 million fraud, his client will plead guilty on May 11 to securities fraud and money laundering charges. The AP, courtesy of Forbes.com, had this regarding the deal.