Dreier's Associate (Accomplice?) Charged

Jen Chung

Published Dec 23, 2008

Modified Dec 23, 2008

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Jen Chung

Published Dec 23, 2008

Modified Dec 23, 2008

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While once-prominent lawyer Marc Dreier's "high-stakes" grifting of $100 million seems like small potatoes next to Bernard Madoff, it's still big. According to CityRoom, former stockbroker Kosta S. Kovachev was "arrested...and charged with conspiring with...Dreier to commit wire fraud by selling fake promissory notes." The complaint says that Kovachev posed as the controller of Solow Realty when meeting with a hedge fund, in Dreier's attempt to sell $115 million of promissory notes allegedly issued by Solow. Previosuly, Kovachev was named in a complaint about a $28 million Ponzi scheme in Florida. Oh, and for the record, Michael Strahan's spokesman tells us the ex-Giant is not a client of Dreier's: "Out of circumstance because he is a public figure, Mr. Strahan has many causal acquaintances -- Mr. Dreier is one of those. However, Mr. Strahan has never been a client." Strahan and Dreier did, however, have charity events together.