Marc Dreier Is Arrested

Marc Dreier is alleged to have absconded with up to $380 million in pension fund investments.  A Judge Douglas Eaton denied bail for Dreier, who, as we write, remains holed up in the Metropolitan Correctional Center?

According to Wayne State’s Peter Henning, under the Bail Reform Act of 1984, which governs bail in the federal system, judges are largely asked to consider two factors in deciding whether to grant bail: 1) whether the person poses a threat to the community and 2) whether the person is a flight risk.


 

Will He Flee To Israel?

According to a reporter over at the federal courthouse in Manhattan, prosecutors typically don’t oppose bail for white-collar defendants unless there’s a large amount of money possibly available overseas to aid flight or the defendant isn’t a U.S. citizen and doesn’t have strong ties to the U.S.

With Dreier, however, the situation was different. “At the time he was arrested, he was in a foreign country trying to impersonate other people,” says Henning. “I’m not surprised bail was contested.”