Beverly Hills 12/2/2009 1:15:50 AM
News / Business

Lawyer Scott Rothstein Charged with $1 Billion Investment Fraud

Finance World News Update by EQUITIES Magazine

Lawyer Scott Rothstein was in the Miami FBI office today following his arrest on five charges: a violation of the Racketeer Influence and Corrupt Organizations (RICO); mail fraud; wire fraud; money laundering; and conspiracy.

The federal charges allege that he operated a $1 billion investment scheme that used phony legal settlements.

Rothstein was scheduled to appear in federal court later today. A news conference by prosecutors, the FBI and Internal Revenue Service is also planned.

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