Friday, January 8, 2010

Scott Rothstein to Plead Guilty

A disbarred South Florida attorney agreed Wednesday to plead guilty later this month to charges arising from an alleged Ponzi scheme that cheated thousands of investors out of $1.2 billion.

Scott Rothstein is charged in a five-count indictment with racketeering, conspiracy and fraud in a scheme that ran from 2005 to 2009.

Rothstein attorney Marc Nurik said his client, who has been jailed without bail since his Dec. 1 arrest, is focused on returning as much money as possible to investors. Nurik said Rothstein's seized assets - two dozen pieces of real estate, numerous luxury cars, jewelry, bank accounts and more - are worth between $60 million and $100 million.

"He said from the very get-go he is going to accept responsibility for his actions," Nurik said. "My goal is getting money back to legitimate investors and determining who the legitimate investors are."

Full Article and Source:
Alleged Florida Ponzi Schemer Will Plead Guilty

See Also:
Editorial: Charities Will Suffer


StandUp said...

I hope he does plead guilty and let's get it over with.

jerri said...

ya save the taxpayers some money and the prosecutors a lot of work and grief so they can put efforts on the next case bye bye

Anonymous said...

Geez, what will we do when Rothstein is locked up and he's not in the news anymore?!

Max said...

I bet he'll get a pretty sweet deal to plead.