Self-confessed thief and admitted liar Scott Rothstein continues to make national news for the fallout of his $1.2 billion Ponzi scheme. Bloomberg BusinessWeek, a national publication, recently ran an article detailing Rothstein’s allegations in his explosive December 2011 deposition testimony.
Facing decades in federal prison, Rothstein has been offering testimony against individuals he alleged were complicit in the Ponzi scheme in an effort to reduce his sentence. Rothstein alleged that high-ranking bank officials participated in the Ponzi scheme, including John Harris of Gibraltar Bank and officials from TD Bank.
WSH Partner-in-Charge Michael S. Popok, who represents Harris, challenged Rothstein’s baseless allegations, stating that “the only thing [John Harris] ever did was go to a Dolphins game with a high-end client.” Miami attorney Eugene E. Stearns, who represents Gilbraltar Bank, responded that Rothstein is a “pathological liar” and that Gibraltar routinely investigates new investors to prevent fraud.
Rothstein’s mea culpa and offer of cooperation was unpersuasive to the sentencing judge; subsequent to his deposition testimony, Rothstein was sentenced to fifty years in federal prison.
To read a copy of the article, click here.
Author(s): Brooke P. Dolara
