Watch CBS News

Ponzi Schemer Rothstein Deposition Set For Monday

MIAMI (AP) — Convicted Ponzi schemer Scott Rothstein will be in Miami to undergo questioning by at least 30 lawyers involved in several civil lawsuits stemming from the $1.4 billion fraud.

Rothstein's deposition will take place behind closed doors in Miami beginning Monday. The session is expected to last two weeks.

A Fort Lauderdale law firm is asking a bankruptcy judge to allow transcripts of the sessions to be made public as soon as possible after each day. A hearing on that is scheduled for Tuesday.

Rothstein is currently serving a 50-year prison sentence after pleading guilty last year to racketeering, money laundering and fraud. . It revolved around investments in fake legal settlements.

He is serving the sentence in an undisclosed location after helping authorities prosecute a reputed Mafia figure.

Authorities have been selling off Rothstein's homes, boats, flashy cars and other assets to compensate wronged investors.


(© 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.