NY Attorney Dreier To Plead Guilty

NEW YORK (Reuters) – High-profile New York lawyer Marc Dreier will plead guilty next month to an indictment charging him with running an investment fraud in the hundreds of millions of dollars, his attorney said on Monday.

Attorney Gerald Shargel said Dreier, once head of 250-member law firm Dreier LLP, would plead guilty to the charges on May 11 in Manhattan federal court.

Dreier, 58, who is under house arrest in his New York apartment, was accused of lying to hedge funds and investment funds that he was selling promissory notes on behalf of a New York developer and a pension fund in Canada. (Reporting by Grant McCool; Editing by Steve Orlofsky)