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Scott W. Rothstein

A look at some of the biggest Ponzi schemes

William "520 Percent" Miller of Brooklyn, N.Y., claimed in 1899 he had inside information on stocks and promised interest of 10 percent a week. He defrauded investors out of $1 million.— Charles Ponzi, an Italian immigrant in Boston, ran a bogus investment scheme in 1919-20 involving postal currency. As many as 20,000 people invested $8 million to $10 million. He spent time in prison before being deported in 1934.— Lou Pearlman, the mastermind behind the Backstreet Boys and 'N Sync, operated a $300 million stock and investment scam. He was sentenced to 25 years behind bars.— James Paul Lewis Jr. told investors he made money by buying and selling distressed businesses, leasing equipment to medical offices and financing medical insurance premiums. He was sentenced to 30 years in prison for a scheme that ran from 1985 to 2003 and cost nearly 3,300 investors around $70 million.— Steven Hoffenberg, a bill collector who once briefly ran the New York Post, admitted he defrauded investors of $...

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  1. Fla. Ponzi associate seeks lenient sentence

    An associate of convicted Florida Ponzi scheme operator Scott Rothstein is seeking a lenient prison sentence because of her cooperation with investigators and low-le...

  2. Fla. Ponzi scammer begins 2-week lawyer grilling

    To avoid possibly dying in prison, convicted Ponzi schemer Scott Rothstein is naming names and pledging to tell the complete truth about who else was involved in the...

  3. How to Spot a Ponzi Scheme

    In the wake of the discovery of Bernie Madoff’s longest-running Ponzi scheme that stole millions of dollars over several years, the Securities and Exchange Commissio...

  4. Reputed Italian mobster linked to Fla. attorney's Ponzi scam pleads guilty in US court

    A reputed Italian mobster linked to a massive Ponzi scheme pleaded guilty Wednesday to money laundering conspiracy charges brought after the FBI recorded him agreein...

  5. Luxury cars, boats once owned by Fla. Ponzi scheme attorney bring $5.8 million at auction

    FORT LAUDERDALE, Fla. (AP) — Some of the flashier spoils of disbarred attorney Scott Rothstein's massive Ponzi scheme were auctioned Thursday for $5.8 million, with ...

  6. Luxury cars, boats once owned by Fla. Ponzi scheme attorney being auctioned

    FORT LAUDERDALE, Fla. (AP) — Some of the flashier spoils of disbarred attorney Scott Rothstein, who pleaded guilty to running a massive Ponzi scheme, will be sold at...

  7. US: Fla. lawyer who ran Ponzi scheme deserves more lenient sentence because of undercover work

    FORT LAUDERDALE, Fla. (AP) — A disbarred South Florida attorney who admitted orchestrating a $1.2 billion Ponzi scheme deserves a more lenient 40-year prison sentenc...

  8. Federal judge in Fla. to begin sorting through admitted Ponzi scheme operator's assets

    FORT LAUDERDALE, Fla. (AP) — A federal judge in Florida will begin sorting through more than 40 claims on real estate, bank accounts and other assets linked to Scott...

  9. Ex-lawyer gets 50-year prison sentence for orchestrating $1.2 billion Ponzi scheme

    FORT LAUDERDALE, Fla. (AP) — Disbarred attorney Scott Rothstein has been sentenced to 50 years in prison by a Florida judge for operating a $1.2 billion Ponzi scheme...

  10. Feds say $188 million in restitution due more than 200 victims of Rothstein Ponzi scheme

    Federal prosecutors have asked a judge to approve more than $188 million in restitution for victims of the Ponzi scheme operated by former Florida attorney Scott Rot...

  11. Date Set for Florida Lawyer Charged in Ponzi Scheme to Plead Guilty

    A disbarred South Florida attorney agreed Wednesday to plead guilty later this month to charges arising from an alleged Ponzi scheme that cheated thousands of invest...

  12. Date Set for Florida Lawyer Charged in Ponzi Scheme to Plead Guilty

    A disbarred South Florida attorney agreed Wednesday to plead guilty later this month to charges arising from an alleged Ponzi scheme that cheated thousands of invest...

  1. TD Bank owes Ponzi scheme victims $67M, Florida jury says

    A federal jury decided Wednesday that Toronto-based TD Bank owes an investment group $67 million for its role in a $1.2 billion Ponzi scheme that was operated by a n...

  2. Wife of Fla. Ponzi schemer Scott Rothstein sentenced to 18 months in prison for hiding jewels

    The wife of convicted Ponzi schemer Scott Rothstein has been sentenced to 18 months in federal prison for trying to hide $1 million in jewelry from federal agents.A ...

  3. Fla. jury: bank owes $67M to Ponzi scheme victims

    A federal jury decided Wednesday that Toronto-based TD Bank owes an investment group $67 million for its role in a $1.2 billion Ponzi scheme that was operated by a n...

  4. Florida Ponzi Schemer Points Finger at Bankers, Lawyers, Relatives

    Over two grueling weeks, convicted Florida Ponzi schemer Scott Rothstein laid out in incriminating detail how far the tentacles stretched in his $1.2 billion fraud, ...

  5. Ex-legal exec gets 10-year sentence in Ponzi scam

    The former chief operating officer at the law firm run by convicted Ponzi scheme operator Scott Rothstein was sentenced Friday to the maximum 10 years in federal pri...

  6. Fla. Ponzi schemer's wife pleads guilty to hiding $1M in jewelry from federal investigators

    The wife of convicted Ponzi schemer Scott Rothstein has pleaded guilty to concealing more than $1 million in jewelry from federal investigators.Kim Rothstein pleaded...

  7. TD Bank to pay $90 million in U.S. settlements over Ponzi scheme

    Toronto-Dominion Bank will pay $90 million in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme...

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