Rothstein Investor To Pay $25M To Skirt Fraud Claims

Law360, New York (November 7, 2011, 11:43 PM EST) -- Miami businessman Ira Sochet, accused of reaping millions through Scott Rothstein's Ponzi scheme, reached a settlement Thursday with Rothstein's Chapter 11 trustee, agreeing to pay the estate $25 million but retaining a nonpriority $68 million claim against Rothstein's defunct law firm.

In two separate lawsuits filed in a Florida federal bankruptcy court, Rothstein Rosenfeldt Adler PA trustee Herbert Stettin said Sochet, through his three companies, was one of the scheme's biggest investors. In the scheme, prospective investors and lenders paid sums to fictitious Rothstein Rosenfeldt clients...
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