Feds say $188 million in restitution due more than 200 victims of Rothstein Ponzi scheme

Feds say $188M restitution due in Rothstein case

FORT LAUDERDALE, Fla. — Federal prosecutors have asked a judge to approve more than $188 million in restitution for victims of the Ponzi scheme operated by former Florida attorney Scott Rothstein.

Prosecutors said in a filing last week that they have identified 218 people with legitimate claims. More can be added if they provide proper documentation of losses.

Assets including cash, real estate, houses, boats and jewelry have been seized from Rothstein. But officials say the value is far less than $188 million, so victims will likely only get a portion of their money back. An Aug. 30 court hearing is scheduled to finalize the numbers.

Rothstein is serving a 50-year prison sentence after pleading guilty to charges of running a $1.2 billion scheme in which he bilked investors using faked legal settlements.