FORT LAUDERDALE (CBSMiami) – Scott Rothstein faces a second round of depositions about the inner workings of his $1.2 billion Ponzi scheme that landed him in federal prison.
Just a few weeks ago, Rothstein faced questions from lawyers representing investors he bilked out of millions of dollars. He will give more testimony on more than two dozen bankruptcy cases involving his former firm, Rothstein Rosenfeldt Adler.
Lawsuits totaling roughly $500 million have been filed against multiple entities connected to Rothstein as a bankruptcy trustee tries to recover money for the defrauded investors and creditors. The first deposition filled almost 3,000 pages of transcripts.
Rothstein, 49, is currently serving a 50-year prison sentence for his role in the Ponzi scheme. Rothstein has repeatedly said he would cooperate with both the civil and criminal lawsuits in hopes of receiving leniency on his sentence.
However, unlike the first round of depositions, Rothstein will appear via video teleconference for the new round of questioning.
Rothstein accused several of people of playing a role in the Ponzi scheme, including his former law partners and bankers. Attorneys for those he accused said he’s lying to get out of prison sooner.
A total of eight people, including Rothstein, have been charged in the case of the Ponzi scheme. All but one has pleaded guilty. Prosecutors expect more charges to be filed in the coming weeks.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)