Ex-Attorney Rothstein Cops To $1.2B Ponzi Scheme

Law360, New York (January 27, 2010, 2:31 PM EST) -- Disgraced former attorney Scott W. Rothstein on Wednesday pled guilty to operating a $1.2 billion Ponzi scheme out of his Fort Lauderdale, Fla.-based law firm, facing a sentence of up to 100 years in prison.

As part of an agreement that Rothstein struck with prosecutors, he pled guilty in the U.S. District Court for the Southern District of Florida to five counts related to his alleged swindling of investors and clients, including racketeering and fraud charges.

Under the deal, Rothstein also agreed to forfeit $1.2 billion...
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