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$1.2 billion swindle 'was like Madoff on crack'
CNN.com ^

Posted on 02/21/2010 12:25:01 AM PST by freedomfighter256

Fort Lauderdale, Florida (CNN) -- The photographs on the walls of Scott Rothstein's office at his law firm in Fort Lauderdale, Florida, were a who's who of Washington. There were photos of Rothstein shaking hands with former President George W. Bush and Rothstein with Bush's brother, Jeb, who is Florida's former governor. More photos showed Rothstein glad-handing Sarah Palin, Arnold Schwarzenegger and Bill Richardson. And then there were the senators: Joe Lieberman, Mel Martinez, Arlen Specter and John McCain. All appeared happy to be in the company of a man who by some estimates contributed at least $1.9 million to local and national political campaigns. The problem is, the money was dirty. Rothstein, 47, has been called the Bernie Madoff of South Florida. He pleaded guilty January 27 to five federal charges -- including racketeering, money laundering and fraud. Under his plea agreement, he admitted in court that he masterminded the largest Ponzi scheme in South Florida history. He is scheduled to be sentenced on May 6. The maximum sentence under federal guidelines is 100 years, but he could receive some credit for turning himself in, surrendering his assets and pleading guilty early in the case.

(Excerpt) Read more at cnn.com ...


TOPICS: Culture/Society
KEYWORDS: berniemadoff; madoff; rothstein; scottrothstein

1 posted on 02/21/2010 12:25:02 AM PST by freedomfighter256
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To: freedomfighter256

All these guys are pikers compared to Franklin Roosevelt, the head of the world’s largest ponzi scheme...Social Security.


2 posted on 02/21/2010 12:27:47 AM PST by americanophile (Good luck Team USA! Bring home the gold!)
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To: americanophile

If it’s too good to be true, then it usually isn’t true.


3 posted on 02/21/2010 12:29:06 AM PST by SatinDoll (NO Foreign Nationals as our President!!)
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To: freedomfighter256

Funny how cnn likes to assign gilt by association on every one but obumber. There were two things at the root of the downfall of America, the teachers unions and the msm.


4 posted on 02/21/2010 12:39:28 AM PST by JoSixChip (HOPE = Have Obumber Prove Eligibility)
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To: freedomfighter256
$1.2 billion swindle 'was like Madoff on crack'

Madoff stole $65 Billion - this guy's an amateur in comparison. It's the MSM that's on crack to try to equate the two in order to implicate Republicans, including Sarah, who were completely unaware of the real source of the money.

Bias? There's nothing BUT bias in the news - and it's ALL Leftist.

5 posted on 02/21/2010 12:45:38 AM PST by Talisker (When you find a turtle on top of a fence post, you can be damn sure it didn't get there on it's own.)
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To: Talisker

Those people in South Florida are sure slow learners.
I always remember my Dad’s saying.” You cannot cheat an honest man”/


6 posted on 02/21/2010 2:50:53 AM PST by BooBoo1000
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To: freedomfighter256

“”He didn’t have one Bentley, he had three Bentleys. He had 20 luxury cars he kept in an air-conditioned warehouse,” he said. “Everyone in town was looking at him and asking ‘where is he getting all this money?’ He’s a lawyer, and even the most successful lawyer in this town wasn’t throwing around the money that he was.”
When news of the Ponzi scheme broke, someone sent Norman a photo of Rothstein’s his-and-hers toilets. The lids were gold-plated, each estimated to cost $25,000.”

I looked at the photos.

The toilet lids are solid gold, not plated .......

Just to let ya know ......


7 posted on 02/21/2010 3:01:16 AM PST by DontTreadOnMe2009 (So stop treading on me already!)
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To: DontTreadOnMe2009

Do you think that the Judge will allow Rothstein to to take his toilet lid to prison?

I sure hope so. He shouldn’t suffer the cold bowl he deserves. A 100 year sentence is just about right, with no chance of parole.


8 posted on 02/21/2010 5:18:31 AM PST by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: freedomfighter256

How much has the Global Warming Scam Cost the American People ?


9 posted on 02/21/2010 5:21:02 AM PST by ballplayer
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To: freedomfighter256

I see they failed to mention that this clown is Charlie “Loafers” Crist BIGGEST political financial supporter!


10 posted on 02/21/2010 5:24:42 AM PST by fuzzybutt
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To: ballplayer

Exactly, the “Globull Warming” scam dwarfs all others...combined. Where’s the outrage at the NYTimes? (rhetorical)


11 posted on 02/21/2010 5:28:44 AM PST by newfreep (Palin/DeMint 2012 - Bolton: Secy of State)
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To: BooBoo1000
Those people in South Florida are sure slow learners.

Broward County is one of the more bizarre places to be in for any length of time that is longer than Spring Break.
12 posted on 02/21/2010 5:34:40 AM PST by Canedawg (FUBO! Just FUBO.)
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To: americanophile

You may be right. Social Security has been going on since 1935 and nobody has stopped it yet. It will stop itself at some point. Of course FDR didnt buy himself any Bentleys, watches or gold toilet seats.
PS. Dontcha just love all politicians who got their mugs photographed with this thief?


13 posted on 02/21/2010 5:40:12 AM PST by mono
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To: ballplayer

How much has the Global Warming Scam Cost the American People ?


So far, probably not too much ($50B or so). However, if Cap & Trade passes in any form, the bill will be in the Trillions. I really hope we’ve dodged the bullet here.


14 posted on 02/21/2010 5:43:53 AM PST by rbg81 (DRAIN THE SWAMP!!)
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To: JoSixChip

Funny how cnn likes to assign gilt by association. Nor did the ever report about the 150 or so people who knew the Clintons that were killed?.


15 posted on 02/21/2010 8:54:08 AM PST by Vaduz
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