Scott Rothstein

Single Group Of Hedge Funds Claim $775M Hit In Alleged FL Scam

Justin Elliott | December 4, 2009, 12:11PM

Scott Rothstein

We had wondered how the alleged Ponzi scheme of Scott Rothstein, an attorney, not a financier like Bernie Madoff, could reach the sum of $1.2 billion.

The latest eye-popping number in the case seems to provide an answer: one man's hedge funds had $775 million tied up in Rothstein's allegedly phony investments. And now that man, George Levin, is being accused of trying to help Rothstein prolong the scheme.

Five of Fort Lauderdale investor Levin's Banyon funds are in the list of the top 20 Rothstein creditors, compiled by the trustee in the case. That accounts for about 65 percent of the money in the alleged scheme.

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