Scott Rothstein's life insurance carrier can file a default judgment to cancel the alleged fraudster's $14.8 million policy, a Miami federal judge has ruled. Massachusetts Mutual sued Rothstein the day after he was arrested for allegedly orchestrating a $1.2 billion Ponzi scheme. The insurer claimed Rothstein lied on his insurance application by saying he earned $8 million annually as the head of Rothstein Rosenfeldt Adler and had a net worth of at least $12 million.
January 13, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Scott Rothstein’s life insurance carrier can file a default judgment to cancel the alleged fraudster’s $14.8 million policy, a Miami federal judge has ruled.
U.S. District Judge Adalberto Jordan ruled Friday that Massachusetts Mutual Life Insurance can file a motion for default judgment against Rothstein by Jan. 22 because he did not respond after being served while in custody Dec. 4.
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