The Real Deal Miami

Feds move to seize $75M in Rothstein assets

April 20, 2010 03:15PM

Federal prosecutors moved yesterday to seize more than $75 million in assets from convicted fraudster Scott Rothstein, the Fort Lauderdale who was pleaded guilty in January to a $1.2 billion Ponzi scheme. Those assets include the $6.5 million Isla Bahia Drive home where Rothstein’s wife, Kim, had been living rent-free while she awaited a judge’s final forfeiture action, and more than 20 other properties that Rothstein surrendered to the federal government in December. Rothstein paid roughly $47 million in total for the real estate assets now being targeted. Kim Rothstein had reportedly been renting out Rothstein’s other mansions in the meantime. Rothstein is facing up to 100 years in prison at his scheduled May 6 sentencing. [Miami Herald] and [Sun Sentinel]