The bankruptcy trustee for Rothstein Rosenfeldt Adler is casting a wider net to recover money distributed by the insolvent law firm in the final months before it tanked in a $1.2 billion fraud. An attorney for the court-appointed trustee filed eight clawback actions Friday seeking $14.2 million that went out the door within 90 days of the firm's bankruptcy. The investment commitments illustrate the success of Scott Rothstein's Ponzi scheme as he recruited investors with promises of annual returns as high as 164 percent.
September 08, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The bankruptcy trustee for Rothstein Rosenfeldt Adler is casting a wider net to recover money distributed by the insolvent Fort Lauderdale, Fla., law firm in the final months before it tanked in a spectacular $1.2 billion fraud.
Berger Singerman attorney David L. Gay, representing court-appointed trustee Herbert Stettin, filed a series of eight clawback actions late Friday seeking $14.2 million that went out the door within 90 days of the bankruptcy at Scott Rothstein’s law firm.
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