Former lawyer Scott Rothstein was sentenced to 50 years in federal prison Wednesday for using his Fort Lauderdale law firm to run a $1.2 billion Bernie Madoff-style Ponzi scheme that brought him yachts and sports cars and allowed him to make sizable contributions to Florida politicians. Rothstein had faced up to 100 years behind bars after pleading guilty in January to two counts of fraud and three counts of conspiracy. The sentence imposed by Judge James Cohn, however, is ten years more than prosecutors requested, and 20 years longer than the term Rothstein had hoped to receive because of his reportedly extensive cooperation with federal investigators.
In a statement, U.S. Attorney Wilfredo Ferrer said that the "rags-to-riches-to-jail saga" of Rothstein, who rose from blue-collar roots in the Bronx to the society pages of South Florida, was a "humbling reminder of what can happen when greed and ambition run amok."
"Today's sentence punishes the defendant for his thievery," said Ferrer, "and hopefully brings some sense of justice to the victims of this massive fraud."
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Scott Rothstein Gets 50 Years in 1.2 Billion Ponzi Scheme
9 comments:
50 years! Rejoice, SWEET JUSTICE!!!
Bye Bye Scott, you will have a very long time thinking: Was it worth it?
This punishment sends a loud clear message.
Yes, Judy, a 50-year term does send a loud clear message. But will greed let them heed it?
Let's hope he is not let out on good behavior in a year when people are not looking.
Bye bye Rothstein - enjoy your trip!
50 years is about half of what he deserves and I'm glad to see it.
It's good to see accountability and Scott Rothstein hauled off to prison.
If Rothstein lives long enough - do the math - for early release he will be a different person, much older and very different in appearance - even he would recognize himself.
Yes, Justice is Sweet! I hope the other perps are paying attention.
Well it's about time they put one of these criminals who exploit others away!! It seems like the state of FL has a lot of those crooks.
The AG needs to lock away some of the "professional guardians" too.
The Sunshine State seems to be unsafe... I sure wouldn't let my mother go visit there...
OH, that's right... my mom did visit there!!! 2 1/2 yrs. later, a resident and domicile of PA, my mother is held capactive by a defacto gaurdianship in Volusia County. We think Jetta Getty of Port Orange Florida has committed fraud upon that court BUT, they won't do anything about it! All they need to do is LOOK in their file!!
Holly, those files need to be audited, oh my gosh, wouldn't that be an outrageous thing to do.
I think most of the persons in authority are happy looking the other way - most of them are lawyers and get their campaign contributions from ___________.
Always follow the $ and the votes those being fed by special interest groups, rarely if every bite the hands that are feeding them and this goes all the way to the Senators who are responsible for introducing new laws, amendments and ...... the wording in those laws that always favor the hand that feeds them.
And, Holly, it isn't YOU and it isn't Me is it?
We pay their salaries, benefits, nice retirement packages so they can use us to fund their lifestyles - nice gigh huh?
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