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Marc Dreier
Marc Stuart Dreier (born May 12, 1950) is an American former lawyer who was sentenced to 20 years in federal prison in 2009 for committing investment fraud using a Ponzi scheme. He is scheduled to be released from FCI Sandstone on October 26, 2026. On May 11, 2009, he pleaded guilty in the United States District Court for the Southern District of New York to eight charges of fraud, which included one count of conspiracy to commit securities fraud and wire fraud, one count of money laundering, one count of securities fraud, and five counts of wire fraud in a scheme to sell more than $950 million in fictitious promissory notes. Civil charges, filed in December 2008 by the U.S. Securities and Exchange Commission, are pending. The 2011 documentary '' Unraveled'' states that "Drier stole over $740 million from 4 clients, 4 individuals, and 13 hedge funds". He is the sole equity partner of the dissolved law firm Dreier, LLP. After Dreier was suspended from the New York Bar on Decembe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long Island
Long Island is a densely populated island in the southeastern region of the U.S. state of New York (state), New York, part of the New York metropolitan area. With over 8 million people, Long Island is the most populous island in the United States and the List of islands by population, 18th-most populous in the world. The island begins at New York Harbor approximately east of Manhattan Island and extends eastward about into the Atlantic Ocean and 23 miles wide at its most distant points. The island comprises four List of counties in New York, counties: Kings and Queens counties (the New York City Borough (New York City), boroughs of Brooklyn and Queens, respectively) and Nassau County, New York, Nassau County share the western third of the island, while Suffolk County, New York, Suffolk County occupies the eastern two thirds of the island. More than half of New York City's residents (58.4%) lived on Long Island as of 2020, in Brooklyn and in Queens. Culturally, many people in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the women ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Shore (Long Island)
The South Shore of Long Island, in the U.S. state of New York, is the area along Long Island's Atlantic Ocean shoreline. Description Though some consider the South Shore to include parts of Queens, particularly the beach communities in the Rockaways such as Belle Harbor, the term is generally used to refer to the Long Island coastline in Nassau and Suffolk counties. It is often used as a generic name for the entire southern half of Long Island rather than just the area immediately adjacent to the coastline. The South Shore tends to be diverse in culture and income as it varies from one hamlet or village to another. In Suffolk County, there still remain pockets of old money from the Gilded Age, including the country seats of families from the Vanderbilts, Havemeyers, and Bournes to the Gardiners, Bayard-Cutting as well as many others. The South Shore is also home to the seaside resort of The Hamptons on its east end, located on the South Fork of Long Island. On its west ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nunc Pro Tunc
''Nunc pro tunc'' (English translation: "now for then") is a Latin expression legal term originating in Great Britain, now in common use in other countries. In general, a ruling ''nunc pro tunc'' applies retroactively to correct an earlier ruling. Legal definition ''Nunc pro tunc'' may apply when "a judgment is entered, or document enrolled, so as to have the same legal force and effect as if it had been entered or enrolled on an earlier day". quoted in at p. 131. That type of order originated from the Court of Chancery from 1388. at pp. 131–132 per Toohey J. In 1805, Lord Chancellor Lord Eldon, said, "The Court will enter a Decree ''nunc pro tunc'', if satisfied from its own official documents, that it is only doing now what it would have done then". ''Nunc pro tunc'' may apply also to acts that are allowed after the legally-allotted time to do them has passed. For example, in the probate of an estate, if property, such as lands, mineral interests, etc., are discovered after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
