Ex-lawyer faces sentencing for Ponzi scheme
Headline Legal News
The sentence was more than the 40 years federal prosecutors had recommended for Rothstein, a disbarred lawyer who pleaded guilty to racketeering and fraud conspiracy charges in January.
He had faced up to 100 years in prison but his lawyer had asked U.S. District Judge James Cohn to give him no more than 30 years.
Rothstein, who turns 48 on Thursday, fled to Morocco as his fraud scheme collapsed in late October, apparently lured by the fact that the country has no extradition treaty with the United States. He voluntarily came back to Florida in early November and has been jailed since he surrendered to the FBI in December.
Upon his return, Rothstein cooperated with investigators unraveling his investment scheme, which prosecutors cited in asking that he be given a sentence of no more than 40 years. But Cohn tore into Rothstein for his "greed and arrogance" before handing down the tougher sentence, stressing that Rothstein had committed his fraud while serving as a licensed attorney.
Part of that fraud involved forging bogus court documents, making it especially egregious to a federal judge, Cohn said. "There can be no conduct more reviled," he said.
Related listings
-
US defends attending Sudan leader's inauguration
Headline Legal News 05/28/2010The Obama administration is defending its decision to send a representative to the inauguration of Sudan's president, who won re-election despite facing an international arrest warrant for war crimes.Omar al-Bashir was sworn in Thursday to another fi...
-
China to frame its first immigration law to attract foreigners
Headline Legal News 05/24/2010China has kick-started a key process to frame its first immigration law to better manage immigrants as the world's fastest economy seeks to attract more foreigners to boost its development. Experts on migration have advised the government to learn fr...
-
Trial for Chandra Levy slaying suspect stays in DC
Headline Legal News 05/17/2010A judge has decided to keep the trial of a man charged in the killing of federal intern Chandra Levy in the District of Columbia.Attorneys for 28-year-old Ingmar Guandique (gwan-DEE'-kay) had argued he would not get a fair trial in Washington because...
Chicago Business Fraud Attorney
Business Fraud can take many forms. In the broadest terms, a fraud occurs when someone intentionally deceives others for personal gain. Many times business fraud is harmful and recovery is necessary. Losing your personal or business’s assets can devastate your entire life. Contact Roth Law Groupto receive help on restoring your business to normalcy before you were victimized with fraud. Business fraud cases can involve multiple people and complicated schemes aimed at deceiving the public, auditors, investigators, or others. Whether you are dealing with corporate fraud or commercial fraud, we can step in and fight back to receive compensation that you deserve.
At Roth Law Group we are devoted to prosecuting and defending the legal rights of individuals and small businesses, as either plaintiff or defendant. Proving fraud can be extremely difficult. To have a successful business fraud case, one must prove that the defendant purposefully set out to defraud the victim. Fraud cases are being investigated more aggressively than ever. With increasing federal regulation and scrutiny of corporate practises, many individuals and businesses find themselves the subject of business fraud investigations.