Banking and Finance

Recent Posts

SEC Wins Civil Fraud Case Against Rothstein Promoter
Posted on 3 Apr 2015 by Jordan D. Maglich

A Miami federal jury handed a victory to the Securities and Exchange Commission as it convicted a Fort Lauderdale investment manager of funneling more than $150 million from over 150 investors to Scott Rothstein's massive $1.2 billion Ponzi scheme... Read More

Rothstein's "Independent Asset Verifier" Indicted On Wire Fraud Charges
Posted on 10 Feb 2015 by Jordan D. Maglich

A south Florida investment advisor who purportedly served as an "independent asset verifier" for investors in Scott Rothstein's massive $1.2 billion Ponzi scheme has been indicted on a dozen fraud charges. Michael Szafranski, 36, faces one... Read More

Bank Seeks Mistrial in Rothstein Case
Posted on 16 Nov 2011 by Jordan D. Maglich

The first jury trial seeking to hold a financial institution liable for its complicity in Scott Rothstein's $1.4 billion Ponzi scheme faces uncertainty after the institution filed a motion seeking a mistrial following testimony of a key witness... Read More

Rothstein Ponzi Victims Sue Bank of America For $385 Million, Punitive Damages
Posted on 3 Apr 2014 by Megan Muir

Victims of Scott Rothstein's massive $1.2 billion Ponzi scheme have sued banking juggernaut Bank of America (the "Bank"), claiming that, despite knowing of the fraud, the Bank and its executives shepherded investors to Rothstein's scheme... Read More

Rothstein Ponzi Victims Sue Bank of America For $385 Million, Punitive Damages
Posted on 3 Apr 2014 by Jordan D. Maglich

Victims of Scott Rothstein's massive $1.2 billion Ponzi scheme have sued banking juggernaut Bank of America (the "Bank"), claiming that, despite knowing of the fraud, the Bank and its executives shepherded investors to Rothstein's scheme... Read More

Deadline Looms For Bank to Pay $67 Million Judgment to Rothstein Victims
Posted on 24 Feb 2015 by Jordan D. Maglich

Judge, this is like a football game. And the game is over, the crowd has left, and the cleaning crew is working in the stands. In spite of TD's numerous unsportsmanlike conduct penalties, the scoreboard shows that we won 67 to nothing. And despite... Read More

Florida Cop Gets 5-Year Sentence For Rothstein Ties, Including Illegal Arrest
Posted on 23 Jul 2014 by Jordan D. Maglich

"Mr. Benjamin, while wearing the cloak of BSO authority, engineered the arrest and incarceration of an innocent citizen. This was done purely for financial gain. This conduct is deplorable — it is unconscionable." - U.S. District Judge... Read More

Rothstein Colleague Found Guilty, Judge Hints At Perjury Charge
Posted on 12 Feb 2014 by Jordan D. Maglich

A Florida jury took just two hours to deliver a guilty verdict in the trial of a former attorney in convicted Ponzi schemer Scott Rothstein's now-defunct law firm. Christina Kitterman, who attracted national headlines for her decision to call Rothstein... Read More

TD Bank Pays $67 Million Judgment to Rothstein Ponzi Victims
Posted on 2 Mar 2015 by Jordan D. Maglich

“We are extremely pleased that TD Bank opted – at long last – to comply with the district court’s order. The judgment has been satisfied in full." - Nina Stillman Mandel, co-counsel for Coquina Investments With just... Read More

Authorities Charge Two More Rothstein Employees in $1.4 Billion Ponzi Scheme
Posted on 5 Dec 2011 by Jordan D. Maglich

Federal prosecutors unveiled charges against two more former employees of convicted Ponzi schemer Scott Rothstein's now-defunct law firm Rothstein Rosenfeldt Adler ("RRA"), accusing them of playing a role in Rothstein's massive fraud... Read More

Opening Arguments Scheduled to Begin Tomorrow in Rothstein Victim Lawsuit
Posted on 8 Nov 2011 by Jordan D. Maglich

The delayed trial of an investment group seeking damages from a South Florida bank for its alleged role in facilitating Scott Rothstein's massive multi-billion dollar Ponzi scheme is scheduled to begin tomorrow. Originally set to start October... Read More

Banker Tied to Rothstein's Massive Ponzi Scheme Will Plead Guilty
Posted on 30 Sep 2015 by Jordan D. Maglich

Just before his trial was scheduled to begin next month, a former TD Bank vice president will plead guilty to a wire fraud conspiracy charge related to his relationship with convicted Ponzi schemer Scott Rothstein. Frank Spinosa, 54, is scheduled to plead... Read More