Defend Truth

Another Ponzi scheme goes belly up

Scott Rothstein, a 47-year-old lawyer out of Fort Lauderdale, Florida, has been accused by US authorities of orchestrating a Ponzi scheme to the tune of US$1-billion. While the amount Rothstein allegedly swindled is nowhere near the US$65-billion total rung up by all-time Ponzi king Bernie Madoff, he certainly lived as extravagant a lifestyle. Federal agents have filed court papers seeking to seize Rothstein’s 87-foot yacht, more than a dozen of his properties, his 20 luxury cars –including a US$1.5-million Bugatti Veyron – and his stakes in dozens of companies. Read more: New York Times

Gallery

Please peer review 3 community comments before your comment can be posted

Make your taxes work for you

Donate to Daily Maverick’s non-profit arm, the Scorpio Investigative Unit, by 29 February 2024 and you’ll qualify for a tax break.

We issue Section 18A tax certificates for all donations made to Daily Maverick. These can be presented to SARS for tax relief.

Make your donation today

Support Daily Maverick→
Payment options

Daily Maverick The Gathering 2024 banner

Daily Maverick has secured an esteemed speaker line-up...

to help make sense of Elections 2024.

Trevor Manuel, Prof Thuli Madonsela and Minister Ronald Lamola are among the latest panellists confirmed for Daily Maverick The Gathering Twenty Twenty-Four.

Join us, on Thurs 14 March 2024 at CTICC Cape Town or online wherever you are, for an event that will put the election in perspective.

Become a Maverick Insider

This could have been a paywall

On another site this would have been a paywall. Maverick Insider keeps our content free for all.

Become an Insider