The Real Deal Miami

Government gets $10 for Scott Rothstein’s Fort Lauderdale mansion

January 16, 2012 03:45PM

From left: Scott Rothstein and 30 Isla Bahia Drive

While Ponzi schemer Scott Rothstein’s Manhattan condominium netted the federal government $5.1 million, his Fort Lauderdale mansion yielded just $10, the Sun-Sentinel reported.

Apparently unable to recoup more than the amount Rothstein owed on its mortgage, the federal government transferred the property to builder and mortgage-holder Rodney Sarkela for $10. Rothstein took out a $4.45 million mortgage from Sarkela in 2008 when he purchased the 9,235-square-foot mansion at 30 Isla Bahia Drive for $6.45 million.

When Rothstein’s real estate portfolio hit the market last January, his defense attorney called the Harbor Beach home the “main, main asset.” The six-bedroom, eight-bathroom home was appraised at $5 million shortly before hitting the market. [Sun-Sentinel]

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