New allegations have emerged against Scott Rothstein, the Florida lawyer accused of running a ponzi scheme and dragging his firm down in the process. These new allegations are a little hard to believe, if only because it’s hard to imagine that Rothstein could have possibly expected to get away with it.
The story comes from the Miami Herald. According to the Herald, Rothstein’s friend Ed Morse hired Rothstein to sue an interior decorator for breach of contract. After losing the case, Rothstein is alleged to have told Morse that he won the case and that the interior decorator owed $23 million. To collect on the judgement, Rothstein suggested they seize a Cayman Island’s account belonging to the decorator. The catch is that in order to seize the money, Morse would first have to post a bond for 2.5 times the amount to be seized, or $57 million. In fact, there was no bank account, no court order to seize it, and no bond. Morse handed over the money to Rothstein and appears to have become yet another of his victims.
Here’s hoping Rothstein does the right thing.
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I hope it’s not true. I don’t know the guy, and I don’t know whether he’s guilty or not. But seeing law people in such situations makes me sad and desperate. Lawyers must be honest people, I think! I hate ponzi schemes!!!