Posted Jun 14, 2011 10:44 pm CDT
A former law partner of convicted Ponzi schemer Scott Rothstein pleaded guilty today to wire fraud conspiracy in federal court in West Palm Beach.
Prosecutors said Howard Kusnick, 59, wrote a letter claiming to have settled a client’s case favorably when in fact there not only was no such settlement but no lawsuit had been filed, reports Bloomberg.
As detailed in earlier ABAJournal.com posts, Rothstein, now 49, who is serving a 50-year prison term, duped investors into purchasing fictitious structured settlements, in the expectation that they would provide a future income stream.
Kusnick remains free on bond. His counsel declined to comment. Prosecutors have agreed to recommend a prison term of 24 to 30 months when he is sentenced in September.
The Ft. Lauderdale-based Rothstein Rosenfeldt Adler law firm is now shuttered and in bankruptcy.
ABAJournal.com: “Former Law Partner of Scott Rothstein, 3 Others Face Wire Fraud Conspiracy Charges”
Sun-Sentinel: “Judge: Rothstein should be brought back to Fort Lauderdale for questioning”