TD Bank is poised under a bankruptcy reorganization plan to take control of claims by investors victimized by former law firm chairman Scott Rothstein even though a jury decided in a civil case the bank aided and abetted his fraud.
February 27, 2013 at 12:00 AM
1 minute read
A federal jury in a civil trial found TD Bank aided and abetted former law firm chairman Scott Rothstein in his $1.2 billion fraud. But a proposal in a 5-inch-thick bankruptcy reorganization plan for his collapsed law firm would place the bank in control of the victims’ reimbursement process.
The suggestion isn’t sitting well with some lawyers representing investors who lost millions of dollars to the now-imprisoned Ponzi schemer.
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