Former Rothstein CFO charged in $1.2B Ponzi scheme

Question of the Day

Should Congress make English the official language of the U.S.?

View results

FORT LAUDERDALE, Fla. (AP) - The former chief financial officer of convicted Ponzi schemer Scott Rothstein’s law firm has been charged with conspiracy in the $1.2 billion fraud.

South Florida federal prosecutors filed a court document Wednesday charging Irene Shannon in the case. The document contends that Shannon oversaw much of the accounting and banking at the Rothstein Rosenfeldt Adler law firm and was well aware of the Ponzi scheme.

Court records Wednesday did not list an attorney for Shannon. The type of document filed by prosecutors indicates that she will eventually plead guilty.

Rothstein is serving a 50-year prison sentence after pleading guilty to orchestrating the scam, which involved investments in nonexistent legal settlements. More than a dozen people have also been convicted in the case.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
TWT Video Picks