Florida Attorney Given 50 Years For Running $1.2 Billion Ponzi Scheme

TAMPA, Fla.—A federal judge June 9 sentenced prominent South Florida attorney Scott Rothstein to 50 years in prison for operating through his law firm a $1.2 billion Ponzi scheme that induced investors to buy interests in non-existent civil case settlement awards and in bogus loans (United States v. Rothstein).

The sentence, handed down by Judge James I. Cohn of the U.S. District Court for the Southern District of Florida, also incorporated a previously issued preliminary order that Rothstein forfeit his interests in real estate, vehicles, bank accounts, and investments, among other properties, according to a statement by U.S. ...