November 28, 2009
High Profile Disbarment
The Florida Supreme Court has accepted the consent disbarment of an attorney in the wake of a recent FBI raid on his law office. The Huffington Post reported as follows earlier this month:
Rothstein, 47, a flashy attorney who has raised millions of dollars for charities and politicians, has made no public statement since the fraud allegations surfaced earlier this week. The state Democratic and Republican parties are both returning tens of thousands of dollars in Rothstein's donations, and Gov. Charlie Crist is giving back $9,600 from his U.S. Senate campaign.
A spokesman for the law firm, Charles Jones, said the firm cooperated fully with the search and had reopened for business Thursday morning. Rothstein was removed as chief executive officer by a judge who also appointed a receiver to unravel its finances. Attorneys for investors say well over $100 million may be lost.
Attorney William Scherer, who represents a dozen investors out some $80 million, said lawsuits are in the works against banks, insurance policies and Rothstein's assets. He also plans to file lawsuits seeking the return of charitable and political contributions.
The court's web page links to the documents relating to the disbarment. (Mike Frisch)
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