List of funds potentially caught in the Dreier scandal is a who's who, including Amaranth's Nick Maounis (who as you may recall, started up another fund called Verition)

A list of hedge funds and other investors who may have gotten bamboozled in the Mark Dreier swindle is found in a grand jury subpoena attached to a court filing made by Dreier's court-appointed receiver Mark Pomerantz. The subpoena requires that any documents pertaining to those funds be produced, so while it doesn't necessarily mean that they all lost money, they're presumably somehow involved (and we'll guess that most of them probably did lose). There are some heavy hitters on the list, including Paulson & Co, Elliott Associates, Davidson, Kempner, Baupost, Sandell Asset Management, Fortress, Perella Weinberg, GSO (Blackstone's alternative investment arm) and Eton Park.  Also notable on the list is Verition -- run by Amaranth's iceberg hitting captain, Nick Maounis. Did he step in it again and strike yet another iceberg?

The firm's court-appointed receiver, Mark Pomerantz of Paul, Weiss, Rifkind, Wharton & Garrison, submitted court papers (available below) sometime yesterday or today outlining the firm's economic situation, and it's not pretty. The firm won't be able to make its payroll on Dec. 15, and, even worse, the firm might not have any malpractice insurance. That's according to Barry Slotnick of Buchanan Ingersoll & Rooney, the firm representing Dreier partner Norman Kinel. "It's a very real possibility that the firm's insurance has lapsed," Slotnick says. Obviously, that would be a disaster for the 240 or so lawyers who worked under Dreier and may face some liability for the frauds despite Dreier's near total control over the firm's money. Slotnick says he and partner Cynthia Monaco are advising Kinel to buy malpractice insurance that protects lawyers after they've left firms.

Pomerantz's court filing contains a copy of the subpoena that reveals, for the first time, the names of the 23 Dreier clients that may have been victims of his alleged frauds. The list contains some big names, including Bell Canada, investment funds such as Paulson & Co., Perella Weinberg, and Fortress Investment Group and other companies. A grand jury sitting in U.S. District Court for the Southern District of New York wants copies of all Dreier records related to those clients.

The full list investors noted in the subpoena who may have taken financial hits is found at the end of the pdf link below.  Here they are:

• Paulson & Co
• Elliott Associates
• Davidson, Kempner
• Baupost
• DellaCamera
• Sandell Asset Management
• Fortress Capital or Fortress Investment Group
• Perella Weinberg
• Eton Park
• GSO
• Meyer Venture Partners
• Concordia Partners
• Enterprise Fund Ltd
• Archery
• MEA Properties
• Four Winds
• Bennington
• Novatar
• Verition
• Berdon LLP
• Whippoorwill
• Bell Canada
• Ontario Teachers Pension fund

Weekend Update: Where do Things Stand With Marc Dreier? - AMLaw Daily
Pomerantz.pdf