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."
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Alleged Florida Ponzi Schemer Will Plead Guilty
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