The federal government moved in Monday to seize property that belonged to ousted Florida law firm Chairman Scott Rothstein, who is under investigation for allegedly running a Ponzi scheme that investors say cost them at least $500 million. The government took charge of a chunk of Gibraltar Private Bank & Trust stock and cars that Rothstein owned or gave as gifts to his former law partners. Rothstein faces no criminal charges, but assets typically are seized in fraud cases, often to be sold to repay wronged investors.
Feds Seize Bank Stock, Luxury Cars Owned by Ousted Law Firm Chairman
Daily Business Review
November 10, 2009