Gerald Shargel, one of Lawline.com's very own featured faculty members is the defense attorney in one of the most shocking cases of the year.  Shargel is representing attorney Marc Dreier as he is being charged by the federal government for duping hedge funds out of more than $100 million dollars. He is facing up to ten years in prison.

Dreier, who is the founder of the New York based law firm Dreier LLP, allegedly issued phony documents concerning real estate developer clients whom he claimed to represent in order to intrigue investors and have them believe they were buying real estate notes at incredibly discounted prices.  Dreier was first arrested in Canada last week after failing to impersonate attorney Michael Padfield at the Ontario Teachers' Pension Plan.   It was here that fraudulent activity was largely suspected and had brought on more attention to Dreier's dealings.  He was released on $100,000 bail and now faces legal problems in both Canada and the U.S.

The New York Times Blog reports that Dreier's firm is currently in "chaos". An associate of the firm expressed, "This has just been a complete lightning strike. The lawyers are completely gobsmacked."