Deadly Force An Issue In Dreier’s Bail Bid

Feb 4 2009 | 2:48am 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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...