Rothstein Assets Not Subject To Forfeiture, 11th Circ. Says

Law360, New York (June 12, 2013, 4:34 PM EDT) -- The Eleventh Circuit ruled Wednesday that money in the bank accounts of convicted Ponzi-schemer Scott Rothstein's bankrupt law firm should not have been subject to a government forfeiture order after his sentencing, saying the funds were too co-mingled with the firm's legitimate business.

The government argued the accounts were part of the proceeds of Rothstein's $1.2 billion scheme, but the circuit court said property can only be forfeited as proceeds when the government has established a nexus between the property and the offense, which would be extremely...
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