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

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.