Posted Apr 11, 2012 11:02 pm CDT
A former partner in the now-shuttered South Florida law firm run by ex-attorney Scott Rothstein is set to take a plea in a federal conspiracy case related to the $1.2 billion Ponzi scheme for which Rothstein is serving a 50-year prison sentence, reports the Sun-Sentinel.
Steven N. Lippman, 49, is expected to plead guilty in a May 11 hearing, the newspaper says. His lawyer, Bruce Zimet confirmed that “we’ve been discussing matters with the government for a while,” but said details of what has been discussed “will come out on the 11th.”
Lippman is accused of conspiring to helping his former partner commit bank fraud and break election laws concerning campaign contributions.
It appears that the case against Lippman rests at least in part on information provided by the 49-year-old Rothstein, who has been cooperating with the government in the hope of reducing his own sentence. Rothstein said in a December deposition that a bank account from Lippman’s former law firm was used to avoid taxes and kite checks, the newspaper reports.
Rothstein also claimed that Lippman got “massive amounts of money” from the Rothstein Rosenfeldt Adler law firm that funded his “rock star lifestyle,” according to the Sun-Sentinel.
Zimet has previously said that his client was not a participant in Rothstein’s Ponzi scheme and that the the charges speak for themselves in the federal case against Lippman.
Additional and related coverage:
ABAJournal.com: “Steven Lippman, Ex-Partner of Scott Rothstein, Is Indicted in Alleged Bank Fraud Conspiracy”
South Florida Business Journal: “Rice Pugatch law firm fires ex-Rothstein partner”
Updated at 9 p.m. to link to South Florida Business Journal article.