Scott Rothstein ran a Ponzi Scheme and bilked investors of $1.2 billion. He's now facing 100 years in the slammer. Luckily, the US Treasury auctioned off his ill-gotten collection of cars for $5.8 million. Bugatti Veyron for $858,000, anyone?
So this Scott Rothstein cat was a lawyer, now disbarred, and partner in the now defunct Rothstein Rosenfeldt Adler law firm. He ran his lawfirm, his political contributions, and his philanthropy and an extravagant lifestyle on a back of a $1.2 billion Ponzi scheme. As with all Ponzi schemes, the bottom eventually fell out (why do they always think they can get away with it?) and now Mr. Rothstein is looking at a cool 100 years in Federal prison.
Now other wealthy but law abiding citizen have benefited from this crook's activities. During his felonious shenanigans he put together a pretty sweet set of toys with his ill-gotten gains so to start paying back the investors who fell for his scheme the US Treasury has auctioned everything off with proceeds going to restitution. Included in the booty was a Bugatti Veyron, Lamborghini Murcielago, Mercedes SLR, Ferrari F430 Spyder, boats and wave runners and much, much more. Had we been there, the totally classy Expedition limo would have been all ours (to put a bowling ally in). [NBC Miami]
Photo Credit: Lilly Echeverria, Miami Herald/MCT