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Tag: Scott Rothstein

REPORT: Feds Open Inquiry Into Allen Stanford’s Political Donations; Committee To Which Andy Bowdoin Donated Money Again Makes News In Ponzi Probe

The Justice Department has opened a probe into the political donations of R. Allen Stanford, according to the Miami Herald. Stanford is jailed in Texas amid allegations he presided over a $7 billion Ponzi scheme on the Caribbean island nation of Antigua. Among the first names to surface were the names of the National Republican…

Dec 28, 2009
Virginia Attorney Whose License Was Revoked After Firm Wrote Bad Checks For Huge Sums Convicted In Ponzi Scheme; Troy Titus Faces Up To 590 Years In Prison

These are some trying times for the legal profession. Disbarred Florida attorney Scott Rothstein is implicated in an alleged $1.2 billion Ponzi fraud in which prosecutors said attorneys from his shuttered, 70-attorney firm in Fort Lauderdale were getting paid from Ponzi proceeds that flowed from bogus “settlements” in cases involving sexual harassment or sexual infidelity.…

Dec 23, 2009
Michigan Woman Charged With Racketeering In Alleged Real-Estate Ponzi Scheme; Rita Gosselin Arrested, Jailed Early This Morning In Greater Detroit

Just hours after news broke of a racketeering indictment by Colorado prosecutors against a Denver-area man in an alleged Ponzi scheme, Michigan prosecutors announced the racketeering indictment of a Greater Detroit woman in what was described as a real-estate Ponzi scheme. In the past two days, prosecutors from different agencies in different regions of the…

Dec 3, 2009
THE PONZI CHILL: In Weeks Prior To Exposure Of $1.2 Billion Scheme, Scott Rothstein Threatened Journalist With Lawsuit, Newspaper Says

In what is becoming a familiar refrain in the Ponzi universe, former Fort Lauderdale attorney Scott Rothstein threatened a Florida newspaper and one of its reporters in the weeks prior to the exposure of his $1.2 billion fraud, the Sun Sentinel reported. The Sun Sentinel identified the reporter as Brittany Wallman. “Am I not making…

Dec 2, 2009
U.S. Attorney: Rothstein Ponzi Money Went To Politicians, Charities; ‘High-Ranking’ Police Officers Received ‘Gratuities’

In a criminal information and news release dripping with the word “co-conspirators,” federal prosecutors, the FBI and the IRS said Ponzi proceeds were used to grease wheels in law enforcement and pollute the worlds of business and politics in South Florida. Former attorney Scott Rothstein of Fort Lauderdale was arrested for racketeering yesterday. He was…

Dec 2, 2009
A PONZI WORLD FIRST? Regulators Have Evidence Accused Minnesota Schemer Trevor Cook Bought A ‘Submarine’ To Shuttle To Private Island

You’ve heard about the Ponzi mansions. You’ve heard about the luxury automobiles — Scott Rothstein’s $1.6 million Bugatti and the $350,000 Rolls-Royces he and suspects in other Ponzi schemes enjoyed. Now comes word that Trevor Cook, implicated in Minnesota with radio talk-show host Pat Kiley in an alleged Ponzi scheme involving at least $194 million,…

Nov 26, 2009
WRAP-UP: Marine Corps Officer Tells Judge Ponzi Schemer Who Fleeced Seniors, Charities ‘Violated Every Character Trait I Hold Dear’

EDITOR’S NOTE: This column summarizes three Ponzi cases: Joseph Forte, Sean Healy and Tom Petters. Forte has been sentenced; Healy has been convicted, and Petters is waiting to hear his fate from a Minnesota jury. The cases vary widely in size and scope, but demonstrate the terrible consequences of Ponzi schemes on individual investors and…

Nov 25, 2009
BLACK COMEDY EMERGES: Petition To Disbar Ponzi Figure Rothstein Arrives At Florida Supreme Court; Lawyer’s Victims Portrayed Unsympathetically In Some Media Accounts; Reporters Dredge Up Old SLAPP Lawsuit

UPDATED 9 P.M. ET (U.S.A.) The alleged Ponzi scheme operated by Fort Lauderdale attorney Scott Rothstein is the stuff from which lawyer jokes are made. It is enough to make the Atticus Finch wing of the trade long for the days in which being a lawyer meant you were special — and being special meant…

Nov 22, 2009
Scott Rothstein Ponzi/Fraud Probe May Involve $1 Billion

The probe into the business affairs of Fort Lauderdale attorney Scott Rothstein may involve more than $1 billion directed to a Ponzi and fraud scheme, the FBI said today. Earlier estimates had placed the total at up to $500 million, and the FBI has made a public appeal for potential victims to provide information. Separately,…

Nov 12, 2009
Alleged Scott Rothstein Ponzi Probe Unfolding Like ASD Case; Forfeiture Proceeding Filed, But No Early Arrest

Federal prosecutors and agents today began the process of seizing assets from Florida attorney Scott Rothstein, amid allegations he had been operating a Ponzi scheme involving hundreds of millions of dollars since 2005. The early probe is shaping up in largely the same way as the early probe into AdSurfDaily, a Florida business accused last…

Nov 10, 2009
FBI Arrests 14, Including 2 Lawyers, In Major Insider-Trading Probe; SEC Says Attorneys Provided Tips For Kickbacks In Latest Scandal That Rocks Wall Street

As the FBI and IRS executed search warrants at the Florida office of attorney Scott Rothstein this morning amid allegations he ran a covert Ponzi scheme that could have drained as much as $500 million from investors, prosecutors up north were concentrating on arresting lawyers in a separate case involving insider trading on Wall Street.…

Nov 5, 2009