Wednesday, 25 May 2016
Last updated 10 hours ago
Feb 4 2009 | 1:48am ET
U.S. District Judge Jed Rakoff doesn’t necessarily want accused fraudster Marc Dreier dead. But the whether an escape attempt could be met with a hail of bullets could play a big part in Rakoff’s decision on Dreier’s bail application.
Rakoff is set to rule on whether to lower the $20 million bail he set for Dreier, the disgraced New York lawyer accused of swindling hedge funds and other investors of more than $400 million. He told prosecutors and Dreier’s legal team to research the issue of round-the-clock, armed security—á la that guarding fellow accused fraudster Bernard Madoff.
“Are these armed guards authorized to shoot him?” Rakoff asked. Prosecutors said they didn’t think so; New York state law would probably prohibit the use of deadly force to prevent Dreier’s escape.