TPMMuckraker

An Unbelievable Spree: How Scott Rothstein Spent His Money

An Unbelievable Spree: How Scott Rothstein Spent His Money

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.


A Warren S87 yacht, the kind owned by Scott Rothstein. (warrenyachts.com)

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 Coupe

2009 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

‘33 Aquariva

2009 11’ Yamaha Jet Ski

2009 11’ Yamaha VS

2009 11’ Yamaha VS

1999 55’ Sea Ray 540 Sundancer

2009 Yamaha Jet Ski

2010 White Lamborghini Ip-670sv

304 pieces of jewelry, watches, necklaces and earrings

3 pieces sports memorabilia

16 DuPont Lighters

$271,160 in United States currency from Rothstein’s home

$1,500 in United States currency from Rothstein’s office

$80,000 in American Express Gift Cards to the attention of Scott Rothstein,

5 additional watches

Guitar collection of Scott W. Rothstein, valued between $10,000 and $20,000

Charlie Crist, FBI, Investigations, Lavish Spending, Rothstein, Rosenfeldt and Adler, Scott Rothstein

Editor & Publisher

Josh Marshall

Managing Editor

David Kurtz

Senior Associate Editor

Paul Werdel

Associate Editor

Sara Libby

Assistant Editor

Igor Bobic

Reporters

Brian Beutler

Carl Franzen

Sahil Kapur

Eric Kleefeld

Eric Lach

Nick Martin

Evan McMorris-Santoro

Ryan J. Reilly

Benjy Sarlin

Front Page Editor

David Taintor

Poll Editor

Kyle Leighton

News Writer

Pema Levy

Video Editor

Michael Lester

Polling Fellow

Tom Kludt

Video Fellow

Clayton Ashley

Research Interns

Michael Brooks

Publishing Intern

Christopher O’Driscoll

Miles Read

General Manager & General Counsel

Millet Israeli

VP, Ad Sales

Bruce Ellerstein

Waldo Tibbetts

Bob Edmunds

Manager, Ad Operations and Sales Support

Versha Sharma

Deputy Publisher

Callie Schweitzer

Director of Technology

Eric Buth

Designer/Developer

Ni Mu

Matthew Wozniak

Tech Fellow

Dennis Cahillane