Deadly Force An Issue In Dreier’s Bail Bid

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.

RELATED STORIES

Accused Fraudster Dreier Pleads Not Guilty
Dreier Officially Indicted, New Charges Added
Dreier Wins Bail, But Can’t Afford It


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...