Tonight 60 Minutes aired one of the most fascinating interviews I've seen in a long time. I had never heard of Marc Dreier, the Ponzi Scheme Maestro who stole money from hedge funds by issuing fake IOU's at high interest rates supposedly backed by a billionaire who knew nothing of the scheme and then obviously defaulting on them.
"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.
But unlike Bernie Madoff, Marc Dreier agreed to talk to Vanity Fair magazine and to 60 Minutes, his only television interview. "
Source: CBS News