Judge Gives Marc Dreier Twenty Years, Hits Him Where It Hurts

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Photo: Patrick McMullan

One can only imagine how cheated Marc Dreier feels. For two brilliant days after he was convicted of running a $760 million Ponzi scheme, it seemed he would go down in history as as the world's biggest Ponzi schemer — bigger even than Charles Ponzi! Then Bernard Madoff confessed to a crime that dwarfed Dreier's by billions of dollars, dooming Dreier to a fate even worse than being stuck in prison. Like Giselle's not-as-hot twin sister, or Brad Pitt's real-estate-agent brother, Doug Pitt, he would always be linked with Madoff but always be characterized as lesser. Such it was at Dreier's court sentencing yesterday, which yielded only short or below-the-fold stories in today's papers, sandwiched between ads — nothing like the blowout coverage Madoff received when he was sentenced to 150 years last month. The judged waved off the prosecutor's suggestion that Dreier be given a similar sentence, and instead handed down a twenty-year sentence accompanied by this cutting remark:

"Mr. Dreier is not going to get any sympathy from this court, but he is no Mr. Madoff by any estimation," the judge said.


We suppose Dreier will be mulling over that one for the next twenty years.

MINI-MADOFF LAWYER GETS 20 YEARS [NYP]