The Real Deal Miami

Rothstein sentenced to 50 years in prison

June 09, 2010 01:30PM

Scott Rothstein

Disbarred Fort Lauderdale attorney Scott Rothstein has been sentenced to 50 years behind bars, after pleading guilty to perpetrating a $1.2 billion Ponzi scheme. Millions of dollars worth of personal property was revoked from Rothstein following his arrest, including 22 real estate properties, an 87-foot yacht and a fleet of pricey sports cars. Federal officials hope to use that money to reimburse those victimized by Rothstein. Among Rothstein’s group of investors was Manhattan-based developer Stephen Ross, whose Related Companies funneled $4 million to Rothstein’s firm. [Sunshine State News]