A jury took less than five hours Wednesday to come back with a verdict finding TD Bank conspired with scammer Scott Rothstein, awarding $67 million to an investment group. Texas-based Coquina Investments sued TD Bank, saying the bank aided and abetted Rothstein in his $1.2 billion fraud.
Russell Adler, a former name partner of the defunct Rothstein Rosenfeldt Adler law firm, has asked a judge to sanction the trustee in the RRA bankruptcy case for allegedly violating a non-disparagement agreement and accusing Adler of participating in the $1.2 billion Ponzi scheme.
Fort Lauderdale investor George Levin, whose $775 million in investments were the biggest losers in Scott Rothstein’s $1.2 billion Ponzi scheme, said in a deposition Monday that he “absolutely did not know” Rothstein was running a fraud.
Miami Beach financier Ira Sochet, the second largest investor in Scott Rothstein’s Ponzi scheme, has agreed to settle with the defunct Rothstein law firm’s bankruptcy trustee for $25 million. If approved in court, the agreement would be one of the largest settlements to date in the case.
In a hearing this week, an attorney representing unsecured creditors who claim they lost $165 million in Scott Rothstein’s Ponzi scheme accused the bankruptcy trustee for Rothstein’s defunct law firm of excessively billing the estate for professional fees and “taking actions that are wasteful.”