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Ponzi schemer Scott Rothstein says he’s been working undercover for FBI

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From none other than Lucy Morgan: Ponzi schemer Scott Rothstein, the Fort Lauderdale lawyer who spent the past five years handing out millions of dollars in campaign contributions to Florida politicians, says he has spent the past few months working undercover for the FBI.

The admission, made in letters and other documents filed in a bid to reduce the federal prison sentence he will get Wednesday, does not identify the people who may soon learn they have legal problems of their own.

The money Rothstein doled out to politicians came from victims of a $1.2 billion Ponzi scheme. He faces a possible prison sentence of 100 years and has already surrendered millions of dollars in cash, cars, real estate and jewelry. His lawyer suggests a 30-year prison sentence would be adequate punishment. Rothstein pleaded guilty to multiple counts of fraud in January.

“Mr. Rothstein acknowledges that he not only stole other people’s monies, he also used it to corrupt the political process and enhance his power for personal gain,” attorney Marc S. Nurik noted in a sentencing memo filed Friday.

To make amends, he is helping the government bring to justice “those others who bear criminal responsibility in this and other matters,” Nurik wrote. Continue reading here.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.

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