Feeder Fund Settles Rothstein Ponzi Suit For $10M

Law360, New York (September 21, 2011, 8:40 PM EDT) -- The largest feeder fund in Scott W. Rothstein's Ponzi scheme will pay at least $10 million to exit a suit brought by defunct law firm Rothstein Rosenfeldt Adler PA's bankruptcy trustee, according to a settlement agreement filed Tuesday in Florida bankruptcy court.

Under the terms of the deal, George Levin, his wife Gayla Sue Levin, his hedge fund Banyon Capital LLC and other Banyon-related entities will liquidate their assets and hand over the proceeds to trustee Herbert Stettin. The trustee will keep 85 percent of any...
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