Not sure how many people here know this, but there’s an old saying that when one is running on Ponzi scheme, one needs total focus. It’s a lot of work defrauding investors and while some activities by your staff are tolerable (smoking weed in every corner of the office, as well as the parking garage and the courtyard out back and having sex with prostitutes on the desk), a line must be drawn at those which create unacceptable distractions, like dealing said pot and purveying said prosties. If that doesn’t make any sense or you’re confused at the finely drawn distinction, perhaps convicted Ponzster Scott Rothstein, who was deposed on the matter today, can shed some light. Read more »
Damn, that’s harsh. If you’re thinking about starting a Ponzi scheme, it’s probably not a good idea to forge the signatures of several judges on fake federal court documents. For Scott Rothstein, that move (and the fact that he defrauded some folks) landed him a 50 year sentence today for running a $1.2 billion Ponzi scheme out of his South Florida law firm office.
“I am truly and deeply sorry for what I have done,” Rothstein said, addressing the court wearing cuffs on his wrists and ankles. “I don’t expect your forgiveness.”