en.wikipedia.org/wiki/Marc_Dreier
1 correction found
in a scheme to sell more than $950 million in fictitious promissory notes
Federal charging and plea materials describe Dreier’s fake-note scheme as involving about $700 million, not more than $950 million.
Full reasoning
The dollar amount here does not match the official federal case materials.
Multiple DOJ sources tied to Dreier's criminal case consistently describe the promissory-note fraud as involving about / more than $700 million, not more than $950 million:
- The March 17, 2009 superseding-indictment press release says that from 2004 through December 2008, Dreier "sold approximately $700 million worth of fictitious promissory notes."
- The May 11, 2009 guilty-plea press release says that during the scheme, Dreier "collected more than $700 million through the sale of the fake promissory notes."
- The July 13, 2009 sentencing press release likewise says he "collected more than $700 million" through the fake-note sales.
Those are the authoritative descriptions of the criminal case. They contradict the article's claim that the scheme involved selling more than $950 million in fictitious promissory notes.
3 sources
- Marc Dreier Charged With Money Laundering — Superseding Indictment Press Release (Mar. 17, 2009)
The press release states that from 2004 through December 2008, Dreier 'sold approximately $700 million worth of fictitious promissory notes.'
- Marc Dreier Pleads Guilty to Fraud (May 11, 2009)
The plea press release says: 'During the course of the scheme, DREIER collected more than $700 million through the sale of the fake promissory notes.'
- Marc Dreier Sentenced to 20 Years in Prison for Fraud (July 13, 2009)
The sentencing press release describes Dreier as having collected 'more than $700 million through the sale of the fake promissory notes.'