Ex-SEC Lawyer Pleads Guilty In NY Marc Dreier Case

LARRY NEUMEISTER

NEW YORK (AP) — A former lawyer with the enforcement division of the Securities and Exchange Commission pleaded guilty Monday to conspiring with a prominent Manhattan lawyer to dupe hedge funds out of tens of millions of dollars.

Robert Miller, 52, of Englewood, N.J., entered the plea to conspiracy and securities fraud charges in a cooperation deal with prosecutors in U.S. District Court in Manhattan on Monday. If his cooperation is unsuccessful, he could face up to 25 years in prison at a sentencing scheduled for Feb. 5.

Miller admitted conspiring with lawyer Marc Dreier in November 2008 as Dreier sought to sell more than $44 million in fictitious securities to hedge funds.

Miller was a staff attorney in the SEC's enforcement division from about 1983 through 1986. Since then, he has worked as an analyst and money manager at various firms in the securities industry, according to court papers.

A charging document filed with the court said Miller and Dreier managed an investment fund together at various times between 1999 and 2008.