The 3,000 square-foot East Side apartment belonging to Marc Dreier, the once prominent attorney who pleaded guilty to a $700 million fraud involving fake promissory notes, was auctioned off yesterday—and the winning bid was Berkshire Hathaway executive Ajit Jain's $8.2 million offer. Bloomberg News notes that's "21 percent less than what [Dreier] paid two years ago" and that "The last recorded sale at Beacon Court was a 3,058 square-foot unit on the 49th floor," which sold at $12 million in May. Dreier's apartment is on the 34th floor and boasts a huge terrace. The proceeds of the sale are being split by personal bankruptcy creditors and the U.S. Attorney’s office—Dreier did have a $5 million mortgage after all. The $8.2 million sale includes items inside the apartment, such as nine pints of Haagen Dazs, "a half-eaten raspberry peach pie, a collection of Christian Liaigre furnishings and seven pairs of black Ermenegildo Zegna shoes, mostly size eight." While signing the paperwork, Jain reportedly said, "Right now, I'm having buyer's remorse." These days, Dreier is sort of familiar with remorse. more ›

Marc Dreier, the once high-flying lawyer with hundreds of employees and celebrity friends, was sentenced to 20 years in prison for his $700 million scam to "issue and sell fictitious promissory notes purportedly issued by companies in the United States and Canada." He pleaded guilty to duping investors out of $400 million in May and said in a letter to the judge, prior to his sentencing, "I have lost all my friends. I have lost my law firm, my law license and all that I ever owned. I have seen my family suffer the unimaginable. I have lost my past and my future. I have lost everything a man can lose. And now I will lose my freedom as well, and rightly so." more ›

From running a law firm that employed two hundred lawyers to facing life behind bars: Marc Dreier appeared in federal court and pleaded guilty to "money laundering, conspiracy, securities fraud and wire fraud." His admission read in part, "I engineered a scheme to issue and sell fictitious promissory notes purportedly issued by companies in the United States and Canada," and he noted that the scheme took place between 2004 and 2008. more ›

Marc Dreier is currently under house arrest for his alleged $380 million fraud. Except now the feds had amended their indictment and say the fraud—selling fake promissory notes to hedge funds—is actually $700 million. The Law Blog reports, "Prosecutors are demanding that Dreier forfeit approximately $700 million, including all of his interest in a yacht, luxury cars, and more than 200 works of art by such masters as Andy Warhol, Jasper Johns, Roy Lichtenstein and Henri Matisse." Dreier, a once prominent lawyer whose firm employee 200 people and who pleaded guilty to previous charges, was also hit with a money laundering charge; his lawyer said, "We are looking for a fair resolution and will continue with that effort." more ›

Marc Dreier, the once prominent attorney with over 200 employees, is hoping for bail once again. A lawyer for Dreier, who is charged with stealing $380 million through "high stakes grifting", says his client has been cooperating with authorities, noting that no money appeared to be put into off-shore accounts and therefore poses no flight risk. And FYI: Dreier used the money to, according to the NY Law Journal, cover "operating expenses, capital expenditures, construction costs and security deposits; invested in losing stocks; or used to buy property and artwork." Property like boats and cars (a 2007 Aston Martin DB9 Volante) and artwork like the Tom Otterness sculpture, Big Thief (pictured), and Henri Matisse's "Grand Masque." more ›