Bankruptcy Law
‘Sonic Boom’: Rothstein Churned $250M in Trust Funds Last Month, Lawyer Says
Posted Nov 17, 2009, 02:55 pm CST
By Martha Neil
Attorney Scott Rothstein allegedly wired $18 million to Morocco last month and churned some $250 million that flowed through his trust accounts in October, as he apparently prepared for a possible relocation to the African country, according to news reports.
“Those are enormous figures,” attorney Bill Scherer, who represents investors and is pointing the finger of blame at the bank concerned, tells the Mayo on the Side blog of the South Florida Sun-Sentinel. “That’s like going 200 mph on I-95 in a Chevy—sonic booms should have been sounding.”
But investors and federal authorities are still trying to figure out exactly where all the money went in a claimed Ponzi scheme allegedly operated by Rothstein that… Continue reading...
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