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The Men In Tights Defense

Say what you will about Marc Dreier, yes, ok, so he was into that whole "Yale thing," but he sure know how to pick victims. The list of his stingees has grown to include Amaranth Group Inc., Perella Weinberg Partners and Blackstone Group LP's GSO Capital Partners. Given the current environment, prosecutors are going to have to prepare themselves to defeat the dreaded Robin Hood defense.

Government lawyers identified the firms in a court filing in New York on Feb. 9 as three of the 20 institutions they claim are victims of Dreier's thefts. Prosecutors didn't disclose how much it alleges each of the companies lost.

Is it possible that all these losses never came to light before because these big name hedge funds failed to report the crimes? It seems awfully unusual that Dreier could have defrauded all these funds without tipping a few of them off before now. (Amaranth? That was so 2006).
Amaranth, Perella Were Victims of Dreier's Fraud, U.S. Says [Bloomberg]


In Defense of Raj Rajaratnam

In Defense of Raj Rajaratnam