Disgraced former Florida attorney Scott Rothstein was sentenced today to 50 years in federal prison for engineering a $1.2 billion Ponzi scheme. A federal judge imposed a longer term than both the prosecution and defense suggested for the fraud, which cost about 400 victims a total of $400 million. While the defense argued for a relatively light sentence based on Rothstein's cooperation with the government, the judge said he couldn't overlook the defendant's "greed and arrogance as part of his history."
June 09, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Scott Rothstein, a one-time run-of-the-mill labor and employment attorney turned larger-than-life power broker, was sentenced today to 50 years in federal prison for engineering one of Florida’s biggest investment scams.
U.S. District Judge James Cohn in Fort Lauderdale, Fla., imposed a longer term than both the prosecution and defense suggested for the $1.2 billion Ponzi scheme, which cost about 400 victims a total of $400 million.
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