Monday, July 26, 2010

Rothstein feeder to pay $830 million

The Sun-Sentinel has more here:

The Fort Lauderdale hedge fund manager who was the largest feeder to Ponzi schemer Scott Rothstein has agreed to give up much of his wealth as part of a settlement with bankruptcy attorneys.


The settlement agreement by George Levin and his Banyon investment entities — which funneled $830 million into Rothstein's $1.4 billion investment fraud — was filed late Monday in U.S. Bankruptcy Court.


It does not spell out which assets Levin has agreed to sell and turn over to the trustee for Rothstein's now-bankrupt law firm, but Levin and his wife get to keep their $4.2 million Fort Lauderdale home and roughly $750,000 in personal possessions, according to the agreement.

In other news, Rumpole has admitted that he was wrong and "[o]f course Mr. Markus is right." 

4 comments:

South Florida Lawyers said...

Where does that leave the lawyers handling the civil suit?

Chef said...

With a measly 1/2 billion to feed on

Rumpole said...

Don't they teach you to read at Harvahrd? How about legal analysis. Take down that misleading link or I shall have to seek legal counsel. Perhaps Mr. Barzee or Mr. Flores are available.

Rumpole said...

What a baby. Won't even print my defense. Some free speech advocate you are.