Fortress Investment Group sues law firm connected to Dreier Ponzi scheme

December 27th, 2009
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Fortress Investment Group (NYSE: FIG), a global hedge fund and asset management firm, has filed a lawsuit against Dechert LLP, a law firm linked to Marc Dreier and his $700 million Ponzi scheme. According to the Wall Street Journal, Fortress alleges that it lost $125 million when the firm purchased Mr. Dreier’s falsified legal notes after Dechert LLP looked over the transaction and deemed it legitimate.

Attorney Marc Dreier was sentenced to 20 years in prison in July of 2009 after he pleaded guilty to defrauding clients.
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For Detailed Investor Profiles on these Investors, click below:
Dreier LLP
Fortress Investment Group
Related People: Daniel Mudd; Jude Driscoll; Marc Dreier; Michael E. Novogratz; Randal Nardone; Robert Kauffman; Wesley Edens; William F. Callanan
Related Entities: Drawbridge Global Macro Funds; Fortress Commodities Fund LP; Fortress Partners Funds; Fortress Value Recovery Funds ; Logan Circle Partners; Newcastle Investment Corp
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News

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