Friday, November 13, 2009

Feds Seizing Rothstein's Properties

Federal authorities are seizing Fort Lauderdale attorney Scott Rothstein's properties -- sports cars, waterfront homes, power boats and bank accounts -- as part of a criminal investigation into his alleged multimillion-dollar investment scam.

Shortly before 10 a.m. Monday, two FBI agents, an IRS agent and two truck drivers were spotted in downtown Fort Lauderdale seizing Rothstein's fire engine red Ferrari Spider convertible.Authorities are able to obtain warrants to seize Rothstein's properties -- even before criminal charges are filed in federal court -- because they have evidence to support that the lawyer acquired those assets with ill-gotten gains from his alleged investment scam. The U.S. attorney's office is using the tool of a civil forfeiture action. Eventually, if Rothstein is indicted, prosecutors could transfer the inventory of his properties for criminal forfeiture.

Rothstein, who is staying at an undisclosed location under federal surveillance, has been accused by investors of stealing hundreds of millions of dollars and by his law partners of wiping out their firm.

Full Article and Source:
Feds Seize Embattled Lawyer Scott Rothstein's Property

See Also:
Lawyer Facing Federal Fraud

6 comments:

StandUp said...

It looks like they're closing in on Scott Rothstein and are about to wipe the smile off his face.

Anonymous said...

All of Rothstein's property should be sold and used to pay restitution!

Louis said...

He hung people up - hang 'em high!

Anonymous said...

Bet those cigars don't taste as good now, do they Rothsetin?

Max said...

There's plenty of property to seize and sell and use to pay resitution with.

jerri said...

what a beautiful site all those nice agents in their uniforms surrounding that pretty red sports car purchased by the crook with other people's money hip hip hurray!