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Feds Want Marc Dreier Kept Locked Up

MANHATTAN (CN) - Prosecutors asked a federal judge to keep attorney Marc Dreier in jail pending trial, as the court decided in December. Dreier was arrested in Canada that month, and charged with selling more than $100 million in "fictitious promissory notes" through "forgery, fabricated financial statements and impersonations."

At the Dec. 11 bond hearing, Dreier asked to be released on $10 million bond, with conditions including home detention under guard. The government opposed that, saying Dreier faced overwhelming evidence that he had stolen more than $380 million, and had the means to flee.

Prosecutors say Dreier now suggests the same terms he proposed in December, claiming all of his assets have been traced. The government doubts it, saying the task will require "many more months." It wants him held in jail.

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