In the years spent living off the profits of his alleged $1 billion Ponzi scheme, Florida attorney Scott Rothstein went on a Mike Tysonesque buying spree that’s likely to make even the denizens of money-drenched Fort Lauderdale blush.
We already knew about the $52,000 birthday cake for Gov. Charlie Crist, and the special performance of Life in the Fast Lane for Rothstein’s wife at an Eagles concert, but court papers filed earlier this week show the disgraced attorney also indulged his taste for gaudy jewelry, luxury automobiles, and real estate, even buying a 10% stake in the Versace Mansion in Miami Beach.
As stunning as the sheer amount of money involved — the Feds are seeking forfeiture of $1.2 billion in money and property — is the rate at which Rothstein spent. His net worth went from around $160,000 in 2003 to tens of millions just six years later, according to the Miami Herald. Some of the money was spread around to politicians and local charities.
He had several yachts and a particularly impressive collection of cars, including a 2009 white Bentley convertible, a ‘1967 red Corvette convertible, and a 2010 white Lamborghini.
The document laying out charges against Rothstein also lists real estate including: the stake in the Versace Mansion, many properties around Florida, a condo in a 58th Street skyscraper in Manhattan, and a vacation home in Rhode Island.
He had equity interests in dozens of corporate entities that fit his high-flying lifestyle like VGeorgia (The World’s Elite Vodka) and Renato Watches. And he stowed away many millions of dollars in TD Bank and Gibraltar Bank accounts, as well as at least $3 million in Morocco.
Topping it all off is 304 pieces of jewelry, a guitar collection, and 16 DuPont lighters, accessories for his cigar habit.
Here’s a section from the court papers listing items to be forfeited:
4. Upon conviction of the offense of Conspiracy to Commit Mail Fraud and Wire Fraudandto Commit Wire Fraud as set forth in Counts 3, 4, and 5 of the Information, the defendant,SCOTT W. ROTHSTEIN, shall forfeit to the United States, all property, real or personal, whichconstitutesor is derived from proceeds traceable to the offense.5. The property subject to forfeiture, pursuant to Title 18,United States Code, Sections1963, 982(a)(1) and 981(a)(1)(C), includes but is not limited to:…
1990 Red Ferrari F40 Coupe2009 White Bentley Convertible
2008 Yellow McLaren Mercedes Benz SLR
2007 Black Limousine Ford Expedition
2009 Red Ferrari 430 Spider
2007 Silver Rolls Royce Convertible,
2006 Silver Hummer H1
2008 Cadillac Escalade
1967 Red Convertible Corvette
2009 Black Bugatti Veyron EB
2008 Blue Rolls Royce Drophead Convertible
2007 ‘87 Warren
PAGE: 1 2Top Stories From TPM
Disqus Conversations
Click here to read the Disqus Commenting FAQ.