Scott Rothstein: What happened to the disbarred lawyer and Ponzi schemer?

Scott Rothstein: What happened to the disbarred lawyer and Ponzi schemer?

There are different ways of acquiring wealth, both genuinely and illegitimately. Those who seek to use the natural methods work hard to gain wealth, while the others use dubious methods of wealth acquisitions. Even though Scott Rothstein was on the right track through his career in law, things went south after the Ponzi scheme.

Scott Rothstein
Scott Rothstein posing for the camera. Photo: @scottrothstein
Source: Instagram

Scott Rothstein is a disbarred lawyer who carried many other different titles. He is the former managing shareholder, chairman, and chief executive officer of the now-defunct Rothstein Rosenfeldt Adler law firm. He is serving his jail term for funding an extravagant lifestyle with a $1.2 billion Ponzi scheme. Join us as we discover more about him.

Scott Rothstein profile summary

  • Full name: Scott W Rothstein
  • Nickname: Scott Rothstein
  • Gender: Male
  • Date of birth: 10th June 1962
  • Birth sign: Gemini
  • Place of birth: Bronx, New York, USA
  • Scott Rothstein's age: 59 years (as of 2021)
  • Nationality: American
  • Ethnicity: White
  • Eye colour: Black
  • Hair colour: Black
  • Marital status: Married
  • Spouse: Carol Rome
  • Profession: Lawyer (disbarred)

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Scott Rothstein biography

Scott W Rothstein was born on 10th June 1962 in Bronx, New York, USA. He is 59 years old as of 2021. He moved with his parents to Lauderhill, Florida, when he has a teenager. He has not offered any information about his parent's names and siblings.

He is a well-educated individual with several degrees. They include:

  • Juris Doctor graduate of Fort Lauderdale's Nova Southeastern University's law school
  • The Shepard Broad College of Law
  • Bachelor of Arts graduate of University of Florida

Scott Rothstein's story and career

Scott Rothstein book
Scott and Dan Marino pose for a portrait in business attire in Ft. Lauderdale, Florida. Photo: Marc Serota
Source: Getty Images

He began his legal profession in 1988 and remained relatively unknown for nearly 15 years. In the early 1990s, Scott first partnered with attorney Howard Kusnick. In 2000, he joined Rosenfeldt as partner at the Hollywood firm, Phillips Eisinger Koss & Rosenfeldt, P.A. It was later renamed to Phillips Eisinger Koss Rothstein & Rosenfeldt, P.A.

He started his firm in February 2002; Rothstein & Rosenfeldt, P.A. Susan Dolin was added to the firm in July 2002. In late 2004, the firm was named Rothstein Rosenfeldt, with Adler joining in March 2005. In seven years, Scott and his partners expanded the law firm to a total of 70 lawyers.

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What happened to Scott Rothstein?

The lawyer was accused of funding a lavish lifestyle with a Ponzi scheme valued at $1.2 billion. On 1st December 2009, he turned himself in and was arrested on charges concerning the Racketeer Influenced and Corrupt Organizations Act (RICO).

Even though he pleaded not guilty, he reversed his plea to guilty of five federal crimes on 27th January 2010. However, the United States Magistrate Judge Robin Rosenbaum denied him bond, citing that he was considered a flight risk due to his ability to forge documents. He was sentenced to 50 year imprisonment.

Wife and children

Scott is currently married to Carol Rome. The duo exchanged their wedding vows on 26th January 2018 in a three-day wedding celebration. The ceremony was held at the South Beach Versace Casa Casuarina, where he is part-owner.

However, he was previously married to a woman by the name, Kimberly Wendell Rothstein. Before the separation, she was part of her husband's schemes, and this saw her serve over 15 months in federal prison.

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In 2013, she admitted that she attempted to hide over $1 million worth of assets, essentially jewellery, from bankruptcy proceedings and federal prosecutors. However, at the moment, she has become one of the top salespeople at a Lexus dealership in Miami-Dade County.

Scott Rothstein story
Scott alongside wife Kim Rothstein as they pose for a portrait in Ft. Lauderdale, Florida. Photo: Marc Serota
Source: Getty Images

Scott Rothstein's properties and net worth

How much is Scott Rothstein's net worth? The former lawyer has not offered any information regarding how much he is worth. With his schemes, Scott invested in several residential properties. Scott Rothstein's houses were as follow:

  • 2003 - He paid $1.2 million for an intra-coastal waterfront house on Castilla Isle in Fort Lauderdale.
  • March 2005 - He bought a house near Miami Dolphins' Ricky Williams valued at $2.73 million.
  • He bought two homes on the street and three in Broward collectively valued at close to $20 million.
  • He purchased a $6.45 million waterfront gated Fort Lauderdale home
  • He bought a $6 million condo in New York
  • He purchased a $2.8 million oceanfront estate in Narragansett, Rhode Island

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Among the other luxuries that he owned include a Boeing 727 jet and an 87-feet $5 million Warren yacht. Scott Rothstein's cars included Ferraris (1974, 2006, 2007, and 2008), 2009 Bentley, 2007 and 2008 Silver Rolls-Royces, two 2010 Lamborghini Murcielagos and, a pair of $1.6 million Bugattis.

Scott Rothstein fast facts

  1. What is the name of Scott Rothstein's book? The book bears the title, The Ultimate Ponzi: The Scott Rothstein Story by Chuck Malkus.
  2. Where is Scott Rothstein now? Scott Rothstein today is serving his term in the Broward County Jail.
  3. What happened to Scott Rothstein? He was arrested for planning and executing the Ponzi scheme.
  4. What is the Scott Rothstein's American Greed episode? It is a show revealing the story behind the largest Ponzi scheme in Florida history.

Money acquired illegally is prone to land one into trouble at the end of the day. Scott Rothstein sought the shortcut to great wealth but eventually had to pay dearly for his action. He lost it all after being charged with racketeering, fraud, conspiracy.

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Source: Briefly News

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