$50 Million Forfeiture Deal In Rothstein Case | Crook Going To Jail And Paying Back Money With Assets Forfeited!

$50 Million Forfeiture Deal in Rothstein Case

By: Associated Press Email

 _____________________________________________________________________________________________________________________________________________

News Release: Associated Press
July 15, 2014

FORT LAUDERDALE, Fla. (AP) — Federal prosecutors have reached an agreement with a bankruptcy trustee on how to divide nearly $50 million forfeiture proceeds from convicted Ponzi schemer Scott Rothstein.

Miami U.S. Attorney Wifredo Ferrer says about $28 million will go to qualified victims of the scam and $21 million to claimants in the bankruptcy of Rothstein’s now-defunct Fort Lauderdale law firm.

The money comes from forfeiture of real estate, boats, vehicles, jewelry and bank accounts traced to Rothstein’s $1.2 billion scheme. The settlement still must be approved next month by two federal judges.

Rothstein is among roughly two dozen people convicted in the scam, which offered investments in supposedly confidential legal settlements that did not exist. Rothstein himself is serving a 50-year prison sentence.

 

, , , , ,

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 89 other followers

%d bloggers like this: