Rothstein Funds in Firm Account Not Subject to Forfeiture
This article is for subscribers only.
Funds held in bank accounts of convicted Ponzi schemer Scott Rothstein’s bankrupt law firm can’t be forfeited to the government, a federal appeals court said.
The money in the law firm accounts, mixed with receipts from clients at the time Rothstein was charged, isn’t subject to forfeiture, the Atlanta-based U.S. Court of Appeals said today, reversing the lower court and handing a victory to the trustee of the law firm’s Chapter 11 proceeding.