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Published
Aug 31, 2009
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Nike, Diesel and other companies swindled

Published
Aug 31, 2009

Investor Marc Dreier has defrauded a number of American investment funds, as well as to a lesser extent around twenty brands including Nike, Adidas, Diesel, Tommy Hilfiger, Seven for all Mankind and Nautica.


Diesel, Nike

Mr Dreier is behind a scam worth $400 million that used a Ponzy pyramid scheme, where investors are reimbursed and paid dividends with loans made from new partners. Condemned to twenty years in prison, Marc Dreier mainly targeted investment funds but he also conned large brands for lesser amounts.

Nike lost $243,124 in this case, whereas Adidas is still waiting for repayment of €6,258. The list of 24 names delivered to the American authorities included a number of labels believed to have been stung for amounts less than $5,000. Among them are Diesel, Tommy Hilfiger, Nautica and Seven for all Mankind.

By Jonathan Fulwell (Source: Matthieu Guinebault)

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