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Rothstein Trustee Settles With Alleged Ponzi Scheme Funder

Law360, Miami (April 10, 2014, 8:34 PM EDT) -- The trustee overseeing the bankruptcy of convicted Ponzi schemer Scott Rothstein's law firm on Tuesday settled his fraudulent transfer claims against an alleged funder of the $1.2 billion scheme for $471,000.

Frank Preve, who has been accused by the U.S. Securities and Exchange Commission of helping Rothstein perpetuate the fraud, agreed to hand over the title to a $350,000 house in Cape Coral, Fla., a $56,000 time share in St. Thomas and $65,000 in cash to Rothstein Rosenfeldt Adler PA trustee Herbert Stettin, according to a court filing.

The settlement is a far cry from the $5 million in alleged fraudulent...

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Florida Southern

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November 10, 2009

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