2009-04-01 — bloomberg.com
Lacking full article -- excerpt below:
Fortress said in court filings that it lost the money on worthless notes Dreier claimed were issued by a New York real estate developer. Elliot Management Corp. the New York hedge fund firm founded by Paul Singer, said it lost $101.1 million.
Fortress and Elliot Management are among seven hedge funds that filed claims in the past two days in the bankruptcy case of Dreier’s former New York law firm, Dreier LLP. The firm, which has dissolved, filed for bankruptcy protection in December after Dreier was arrested and charged with fraud.
The Dreier fraud is said to be about $700M worth. Dreier was arrested in Toronto in December 2008 (the same week Madoff was busted, strangely).
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