The federal government has first claim to all of disbarred attorney Scott Rothstein’s seized property if he is convicted of running a Ponzi scheme — an operation prosecutors now estimate attracted $1.6 billion from investors.
U.S. District Judge James I. Cohn, who is presiding over Rothstein’s criminal case, signed an order Monday at the government’s request to preserve all of Rothstein’s assets for forfeiture. The three-page ruling shifts the jurisdiction for marshalling assets from Bankruptcy Court, where Rothstein’s defunct firm Rothstein Rosenfeldt Adler is being unwound, to criminal court.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]