More Florida Attorneys Implicated in Ponzi Scheme

I previously reported on the billion dollar ponzi scheme of now-disbarred lawyer Scott Rothstein, which involved creating fictitious clients and settlement offers to lure investment loans and then using the loans for personal gain. Rothstein has since been convicted of racketeering, fraud, and money laundering and will be sentenced on May 9. 

Meanwhile, bankruptcy proceedings involving Rothstein’s Florida law firm reveal that some of Rothstein’s partners were involved in the fraudualent transfer of money to third parties through large, unrepaid “loans” from the law firm.  Additionally, other questionable law firm payments include the purchase of jewelry and salary payments for some of the partners’ wives. 

See Jay Weaver and Amy Sherman, Bankruptcy lawyers: Scott Rothstein partners made “fraudulent” transactions, Miami Herald, Feb. 11, 2010.  

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this to my attention.