Judge Slaps Florida Ponzi Schemer with 50 Year Sentence
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.''
Well, Rothstein didn’t get much. The sentence was 10 years more than prosecutors actually asked for and 20 years more than Rothstein’s lawyer requested. The judge probably didn’t like the fact that Rothstein also fled to Morocco on private jet with $16 million in cash as his firm imploded last fall. Why he came back, is anyone's guess.
