Luxury cars, boats once owned by Fla. Ponzi scheme attorney being auctionedBy Curt Anderson, AP
Thursday, June 3, 2010
Fla. Ponzi lawyer’s ex-cars, boats being auctioned
FORT LAUDERDALE, Fla. — Some of the flashier spoils of disbarred attorney Scott Rothstein, who pleaded guilty to running a massive Ponzi scheme, will be sold at an auction in Fort Lauderdale.
The items being auctioned Thursday include an 87-foot Warren yacht, several smaller boats and 10 vehicles, including a Bugatti, a Rolls Royce, a Maserati, a Ferrari and a Bentley. They were seized by the Treasury Department and proceeds will benefit wronged investors.
Rothstein is scheduled to be sentenced June 9 after pleading guilty to five felony charges. Prosecutors say he orchestrated a $1.2 billion Ponzi scheme by promising people large profits by investing in legal settlements that were faked.
Rothstein’s law firm imploded shortly before his arrest last year.
Tags: Corporate Crime, Florida, Fort Lauderdale, Fraud And False Statements, North America, United States