The good news for those owed money by lawyer-turned-scam-artist Scott Rothstein is that cash has started flowing into his law firm's bankruptcy estate. The bad news for Rothstein's Ponzi victims is that the professionals are first in line to claim it. The court-appointed bankruptcy trustee for Rothstein Rosenfeldt Adler had $13.4 million on hand as of Thursday. The U.S. Attorney's Office last month said it expects to collect $50 million to $60 million to distribute in Rothstein's criminal case to victims of his $1.2 billion Ponzi scheme, which produced a 50-year prison sentence.
Rothstein Ponzi Victims Get in Line for Payouts
Daily Business Review
September 24, 2010