June 7, 2010

mini-Madoff Marc Dreier: 60 Minutes VIDEO

Marc Dreier is one of the biggest crooks in the history of the financial sector, guilty of pulling off a ponzi scheme that stole more than $400 million dallars, according to the investigation that got him arrested just days before Bernie Madoff got ensnared in an even bigger Wall Street scandal.

Dreier was in charge of a major law firm on Park Avenue in New York, dealing with stocks and bonds and major investment planning. He misused this power to bilk major clients out of huge sums of money.

Dreier was interviewed on 60 Minutes, and told the show "" thought if somebody would ever interview me on a program such as yours it would be for something good I've done, not something humiliating I've done. I can't remember the moment in which I decided to do something that I knew was wrong, I had an ambition that I needed to feed. I think I fell into the trap of wanting to be more successful than I was."

mini-Madoff Marc Dreier: 60 Minutes VIDEO

If it hadn't been for Bernie Madoff, the most famous white collar criminal in America right now would probably be Marc Dreier. If that name is not ringing a bell, it's because Dreier's $400 million Ponzi scheme was blown off the front pages by Madoff's arrest just a few days later. But the case is no less fascinating. The highly respected attorney who ran a big Park Avenue law firm was initially arrested in Toronto for impersonating an officer in a pension fund, in what has been described as perhaps the most bizarre arrest in the history of white collar crime.

mini-Madoff Marc Dreier: 60 Minutes VIDEO

Posted at June 7, 2010 6:40 AM