Kim Rothstein (Melanie Bell)
A prominent Fort Lauderdale jeweler has been sentenced to 10 months house arrest for his role in helping Scott Rothstein’s wife sell jewelry purchased with money from his $1.2 billion Ponzi scheme.
U.S. District Judge Kenneth Marra in West Palm Beach handed down the sentence Friday for Patrick Daoud of Daoud’s Fine Jewelry. It was the lightest criminal sentence for anyone charged so far with a crime related to the Rothsteins.
The sentence was recommended by federal prosecutors. Daoud will also serve two years probation.
He admitted paying $175,000 for a 12.08-carat diamond ring belonging to Kim Rothstein. The plea agreement stipulates Daoud did not know the ring belonged to Rothstein when he purchased it from Kim Rothstein’s friend Stacie Weisman.
Federal prosecutors said Daoud lied under oath about the ring when he testified in a deposition for bankruptcy proceedings on Scott Rothstein’s defunct law firm. He pleaded guilty to one count of conspiracy to commit obstruction of justice earlier last October.
Scott Rothstein is serving a 50-year prison sentence for the Ponzi scheme that offered to finance bogus court settlements.
Kim Rothstein was sentenced to 18 months in prison for hiding and selling about $1 million in illicit jewelry and other assets withheld from the government.
Weisman was sentenced to three months for helping her.
Fort Lauderdale attorney Fred Haddad, who represented Daoud, has said Weisman lied to the jeweler, who panicked when he had to give the deposition and learned the ring belonged to Kim Rothstein.