Word: scheming
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Dates: during 2010-2019
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Problem is, a lawyer earning less than $200,000 a year can't afford all that unless he's, say, running a billion-dollar Ponzi scheme. And that's exactly the crime that Rothstein, 47, has told a judge he'll plead guilty to later this month. Federal prosecutors have charged Rothstein with swindling investors out of $1.2 billion over the past decade, a scam in which he got them to plow money into lucrative, securitized lawsuit settlements that usually turned out to be nonexistent. The alleged crime wasn't as massive as New York City financier Bernard Madoff...
...prison on the charges of fraud, racketeering and money laundering leveled against him - would plead guilty if he hadn't struck a beneficial deal with the feds. They in turn almost certainly expect Rothstein "to name names," says Zelden, not only of those who might have aided the Ponzi scheme, "but of politicians who may have been playing any kind of quid pro quo shenanigans with him." (See the top 10 crooked CEOs...
...feds thus far have only been able to recover assets valued at about a tenth of the Ponzi scheme's take. But Rothstein's alleged investor victims are hoping his guilty plea will mean improved chances of retrieving more of their lost money. "It helps because it means he can testify in civil trials now, and he's said he wants to help make things right," says Scherer. He has filed suit on behalf of victims against Rothstein and Toronto Dominion Bank, which handled the accounts Rothstein used to conduct the alleged Ponzi scheme. (TD Bank insists it exercised proper...
...that Colom was involved in the Musa killings, which remain unsolved. In the video, recorded the week before his death, Rosenberg alleged that Colom, his wife and two associates were using the state-owned development bank for money laundering. The group then ordered the Musa killings to conceal the scheme, Rosenberg alleged...
...Iceland may cave in to the international pressure. The latest opinion polls suggest a softening of hostility toward the repayment scheme, with 53% of Icelanders against it, down from about 70% last month. This could reflect recent appeals by Prime Minister Johanna Sigurdardottir, who is at loggerheads with the President and says the deal is essential for Iceland's recovery. But if Icelanders fall back on the Viking tradition of bold defiance and vote against the plan, this could be one long saga indeed...