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FORT LAUDERDALE, Fla. — Federal agents on Monday began seizing assets of a lawyer suspected of orchestrating a multimillion-dollar fraud scheme, targeting his bright red Ferrari, boats and bank accounts.
FBI and Internal Revenue Service agents spent much of the day taking inventory at the $6.4 million home of attorney Scott Rothstein, where several of his luxury cars and boats are kept. Assets are typically seized in fraud investigations so that they may later be sold to repay wronged investors.Rothstein, 47, has not been charged with a crime. But several investors accuse him of bilking them out of $100 million or more by promising huge profits on investments in legal settlements through his law firm, Rothstein Rosenfeldt Adler.Rothstein’s attorney did not immediately return a telephone call Monday seeking comment.The seizure warrants, described by a federal law enforcement official on condition of anonymity because of the ongoing investigation, are sealed in federal court. News photographers captured images of agents towing away Rothstein’s Ferrari, and several agents were posted outside his ritzy home for much of the day.One bank used by the law firm, Gibraltar Private Bank & Trust, issued a statement saying that a deal involving a Rothstein company was put on hold. The Rothstein entity, Bahia Property Management Llc., had bought 5 percent of Gibraltar, but the deal will be frozen pending the outcome of the investigation.Three of Rothstein’s boats were seized, according to Alayna Gossan, a spokeswoman for National Liquidators — the same company that is handling the auction of disgraced financier Bernard Madoff’s yacht and two other boats. Rothstein’s boats seized on behalf of the IRS include an 87-foot Warren yacht, a 33-foot Aqua Riva and a Sundancer vessel, Gossan said.Meanwhile, a court-appointed receiver looking into finances at the law firm told a judge Monday that he’s getting access to many of the necessary documents regarding Rothstein Rosenfeldt Adler accounts at TD Bank. Bank attorney Glenn Goldstein said the documents would be turned over in full in about three weeks.Broward Circuit Judge Jeffrey Streitfeld also said that he expects "multiple claims from multiple lawyers" representing investors alleging huge losses.
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