Disbarred Florida Lawyer Gets 50 Years for Ponzi Scheme
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Scott Rothstein, the disbarred South Florida attorney who admitted to operating a $1.2 billion Ponzi scheme, was sentenced to 50 years in prison by a Florida judge Wednesday.

The sentence imposed by U.S. District Judge James I. Cohn was actually longer than the 40 years prosecutors had been seeking. Rothstein, 48, was hoping for a 30-year sentence given the fact he offered extensive cooperation with investigators.

Reuters reports Rothstein’s scheme, which first began to disintegrate last fall, involved selling investors discounted stakes in fraudulent settlements of sexual-harassment and whistleblower lawsuits. He promised investors the full proceeds once the cases were settled, but instead Rothstein used money from new investors to pay back old ones.


The money Rothstein acquired from the scheme was used to fund his 70-attorney law firm, Rothstein Rosenfeldt Adler , as well as a lavish lifestyle that included at least two dozen homes.

Rothstein admitted to the scheme in January.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Interesting Legal Sites You May Like




Search Now

Senior Level Litigator

USA-CA-Woodland Hills

Woodland Hills office is seeking a litigation attorney with 5-7 years of experience and a background...

Apply Now

Litigation Associate Attorney


Stamford office of our client seeks litigation associate attorney with 3+ years of experience. The c...

Apply Now

Litigation Associate Attorney

USA-MO-Saint Louis

Saint Louis office of our client seeks litigation associate attorney with 2-5 years of experience. T...

Apply Now

Insurance Coverage Associate Attorney


Washington, D.C. office of our client seeks insurance coverage associate attorney with 3-5 years of ...

Apply Now


Associate Counsel


Workers’ Compensation Insurance Rating Bureau of California (WCIRB) is seeking an Associate Co...

Apply now

Law Student Intern


2nd-3rd year law student. Must have interest in real estate law! Position will include the following...

Apply now

Associate Attorney


Olson Law, LLC is a boutique law firm in Buffalo, Minnesota whose primary practice areas include fam...

Apply now

Director of Enforcement


DIRECTOR OF ENFORCEMENT POSITION AVAILABLE The Fair Housing Rights Center in Southeastern Pennsyl...

Apply now


To Top