MIAMI (CBSMiami/AP) — An ex-banker is facing prison time after pleading guilty in connection to his role in ex-lawyer Scott Rothstein’s $1.2 billion Ponzi scheme.READ MORE: Florida Gov. Ron DeSantis Signs Unemployment, Vaping Bills
A Miami federal judge is scheduled Friday to sentence Frank Spinosa, a former executive at TD Bank. Spinosa is the last remaining defendant currently charged in the Rothstein scam, which collapsed six years ago.READ MORE: Area Businesses Looking To Benefit From Fort Lauderdale Air Show
Prosecutors said he used his position at TD Bank to falsely assure Rothstein’s investors that their money was safe. Rothstein’s scam involved investments in phony legal settlements. Spinosa pleaded guilty earlier this year to wire fraud conspiracy for his role.
More than two dozen people have been convicted in the scam. Rothstein is serving a 50-year prison sentence after pleading guilty to several charges.MORE NEWS: Going To The Fort Lauderdale Air Show This Weekend? Here's What You Need To Know
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