Poor Marc S. Dreier. The powerful, 58-year-old white-shoe laywer has been arrested in Canada on a charge of impersonation ("in connection," The Globe and Mail reports, "with a proposed multimillion-dollar agreement between the Ontario Teachers’ Pension Plan and the financial company Fortress Credit Opportunities.") To add insult to injury, his law firm, with more than 250 attorneys in six cities, not to mention clients like billionaire Sheldon Solow, has canceled next Thursday’s holiday party at the Waldorf-Astoria.
"Marc Dreier lives well," writes the legal blog Above the Law, which broke the story, "with a fabulous Manhattan apartment rumored to rent for $50,000 a month, plus a place out in the Hamptons."
Interestingly, city records show that, in August 2007, Mr. Dreier paid $5.425 million for a condo at the celeb-infested One Beacon Court, through a limited liability corporation. But those records also show that the IRS placed a $157,793.18 federal lien against Mr. Drier back in 2001, when his address was listed at The Sovereign on East 58th Street. He was released from the lien two and a half years later.
He now has bigger problems: Escrow accounts connected to Mr. Dreier are rumored to be short $38 million, Above the Law reported.