The Real Deal Miami

Rothstein properties turned over to feds

December 04, 2009 01:09PM

Alleged Ponzi scheming Fort Lauderdale attorney Scott Rothstein has surrendered his properties, business interests and car collection to the government after negotiating a deal with federal prosecutors. He agreed not to fight a forfeiture action that will give the feds control over 22 properties, more than a dozen sports cars, an 87-foot yacht and interests in more than 100 business entities. In addition, he surrendered $1.26 million in a Fidelity Investments stock account and 304 watches or pieces of jewelry. It is likely that these assets will be used to help provide compensation to investors victimized by the 47-year-old disbarred lawyer’s alleged investment scam, now estimated at $1.2 billion. [Sun Sentinel]