Ponzi Schemer’s Partner Forfeits NYC Apartment

Law360, New York (October 14, 2010, 3:48 PM EDT) -- A name partner in Ponzi schemer Scott W. Rothstein's law firm has settled a portion of the government’s claims against him by agreeing to forfeit a Manhattan co-op he and his wife bought with a $475,000 loan from the bankrupt firm.

Russell Adler and his wife, Katie, agreed to transfer title of the apartment to the U.S. within five days, according to the order approving the settlement agreement, filed Wednesday in the U.S. District Court for the Southern District of Florida.

The U.S. will also assume...
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