Partner of Bankrupt Rothstein Law Firm Faces Pay Clawback Trial Next Month
Russell Adler and his lawyers say he did nothing wrong and never even saw a financial statement for his now-shuttered former firm, Rothstein Rosenfeldt Adler.
But Adler, who apparently wasn’t a partner there, even though he was listed in the firm’s name and served as RRA’s vice president, is facing trial in South Florida next month in an unusual clawback claim filed by a bankruptcy trustee overseeing the windup of the firm’s affairs.
The federal suit seeks to force Adler to repay alleged excessive compensation he received while working at the law firm, plus another $655,000 in outstanding loans, reports the Sun Sentinel.
Name partner Scott Rothstein, who admittedly operated a $1.4 billion Ponzi scheme while at the helm of the firm, has been disbarred and is serving a 50-year federal prison term.
However, no other lawyer at the firm has been criminally charged and, like “investors” in purported structured settlements fleeced by Rothstein, those who have spoken publicly say they had no idea Rothstein wasn’t the stunning success he appeared to be.
Additional coverage:
ABAJournal.com: “Trustee Seeks $75M Forfeiture from Ex-Attorney Rothstein and His Law Firm”
ABAJournal.com: “‘Totally Fooled’ by Now-Convicted Rothstein, Law Partner Tries to Explain What He Did for $450K Pay”
Daily Pulp (New Times): “Adler Defense: I’m Just As Dumb As The Sheriff, The Governor, and The Senator”
