The Herald broke the story here:
Scott Rothstein, the flashy Fort Lauderdale attorney who authorities say ran a $1 billion investment scam while acting like a philanthropic tycoon, is expected to be arrested Tuesday on a federal racketeering charge, sources familiar with the case said.
Rothstein, who had fled to Morocco in late October but returned in early November, is expected to appear at a magistrate hearing to face the RICO conspiracy charge at the federal courthouse in Fort Lauderdale.
While under federal watch in November, Rothstein cooperated with prosecutors and provided them with details of his Ponzi scheme, involving the sale of fabricated legal settlements to wealthy investors.FBI and IRS agents also raided his Fort Lauderdale law office and seized his waterfront home and other assets.
Rothstein could not be reached for comment, and his attorney, Marc Nurik, declined to say anything about his client's imminent arrest.
``Scott intends to see that all legitimate investors get paid back,'' Nurik said late Monday. ``Exactly how that's going to be done remains to be seen. He is sincere in his intent.''
Rothstein, 47, is likely to plead guilty soon while he is in custody. The U.S. attorney's office, meanwhile, will convene a grand jury to consider criminal charges against Rothstein's alleged co-conspirators -- including possibly former employees of his now-defunct firm.
Rothstein, who had fled to Morocco in late October but returned in early November, is expected to appear at a magistrate hearing to face the RICO conspiracy charge at the federal courthouse in Fort Lauderdale.
While under federal watch in November, Rothstein cooperated with prosecutors and provided them with details of his Ponzi scheme, involving the sale of fabricated legal settlements to wealthy investors.FBI and IRS agents also raided his Fort Lauderdale law office and seized his waterfront home and other assets.
Rothstein could not be reached for comment, and his attorney, Marc Nurik, declined to say anything about his client's imminent arrest.
``Scott intends to see that all legitimate investors get paid back,'' Nurik said late Monday. ``Exactly how that's going to be done remains to be seen. He is sincere in his intent.''
Rothstein, 47, is likely to plead guilty soon while he is in custody. The U.S. attorney's office, meanwhile, will convene a grand jury to consider criminal charges against Rothstein's alleged co-conspirators -- including possibly former employees of his now-defunct firm.
Scott is still talking, this time to the Sun-Sentinel:
Rothstein called Monday, after I sent a text asking if he was about to turn himself into federal authorities, a rumor that was making the rounds."No, I'm not surrendering," he said. "I'm sitting here in the hotel with my attorney (Marc Nurik) and it's a very strange scenario."First we're fielding calls from people asking if we're in protective custody. No, I'm not in protective custody. Now we're getting calls if I'm about to surrender...So I guess you guys are giving me a heads up that I'm about to be arrested."
***
Said [Mark] Nurik: "Nobody's telling us that they're picking him up, and nobody's giving us any right to surrender...He's sitting here with me, talking about the case. He's mostly freaking out about being arrested."
So, he'll obviously be detained with no bond. But should he be?
UPDATE 9:30am Tuesday -- Rothstein has been arrested early Tuesday morning and he wasn't permitted to surrender. He will make his initial appearance this morning in Ft. Lauderdale before Judge Robin Rosenbaum.
SECOND UPDATE -- No bond... Stipulation to detention...
THIRD UPDATE -- Rothstein was charged by way of infomation, which means he is definitely cooperating. Still strange to me that they simply wouldn't indict him. Here's the information, which has been assigned to Judge James Cohn.
8 comments:
Who is the judge?
Gotta love Nurik
Yes. He should be held with no bond. RICO! Yikes...should have hired Hector Flores, who was able to get robles a 15 year cap (and robles stole from truly innocent and helpless victims). Now, the guy has been making tons of statements and the sky is the limit! Ouch.
I think Flores actually got Robles a 10 year cap but that deal was rejected by the judge.
no judge yet cuz no indictment has filed yet, right?
Surrender + Stip to PTD + Waive indictment = snitch.
Judge assigned is Cohn. Read the complaint at the Herald website. No indictment b/c he waived so it's an information.
"Surrender + Stip to PTD + Waive indictment = snitch."
Or just another day in the Miami SAO. Which is it though, surrendered or arrested? I've heard it both ways?
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