MIAMI (CBSMiami/AP) – A former chief financial officer of Scott Rothstein’s law firm was given the maximum sentence Friday for her role in the $1.2 billion fraud.
Irene Shannon, the former CFO of convicted Ponzi schemer Scott Rothstein’s law firm, was sentenced by U.S. District Judge Ursula Ungaro to five years in prison.
Shannon, who pleaded guilty to a conspiracy charge, oversaw much of the accounting and banking at the now-defunct Rothstein Rosenfeldt Adler law firm and was well aware of the Ponzi scheme, according to court documents.
Prosecutors say Shannon, 50, was involved in money laundering and a check-kiting scheme to keep the scam afloat.
Rothstein is serving a 50-year prison sentence after pleading guilty to orchestrating the scam, which involved investments in fake legal settlements. More than 20 people have been convicted in the case.
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