(Source: Wall Street Journal)

Disgraced lawyer Marc Dreier was sentenced Monday to 20 years in prison after admitting in May to a scheme to sell $700 million in fake promissory notes and to steal client funds.

At a hearing Monday, U.S. District Judge Jed Rakoff in Manhattan sentenced Mr. Dreier, one-time managing partner of the New York law firm Dreier LLP, to 20 years behind bars and to pay $387.7 million in restitution. The judge also indicated he would approve the government’s request for $746 million in forfeiture.

“I am sorry, deeply sorry for the harm and sadness I have caused so many people,” Mr. Dreier said. “At this point, all I can do is express my shame and remorse.

Read Chad Bray’s full article “Dreier Is Sentenced to 20 Years for Fraud” in the Wall Street Journal (July 14, 2009).

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