MANHATTAN (CN) – A former SEC enforcement lawyer pleaded guilty to helping attorney Marc Dreier sell $45 million in bogus promissory notes to two hedge funds. Robert Miller impersonated a Canadian pension plan executive in phone calls to two hedge funds, for which Dreier paid him $100,000.
Miller, 52, of Englewood, N.J., pleaded guilty to conspiracy and wire fraud. He faces up to 25 years in prison and stiff fines, and also must cough up the $100,000.
Miller’s charade came just before Dreier was arrested in Canada. Dreier is serving a 20-year sentence and has forfeited $746 million and must pay $389 million restitution.