MORE TIME FOR PONZI SCHEMER SCOTT ROTHSTEIN'S WIFE

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for
WANTED SA ~ Contributed & Written by Kenneth Rijock

JUDGE GRANTS PONZI SCHEMER'S WIFE A FINAL DELAY IN SENTENCING, BUT WARNS HER SHE WILL SERVE TIME

Convicted Ponzi schemer Scott Rothstein's wife, Kimberly Wendell Rothstein, who has asked, for a third time, to delay her sentencing, so that she may testify in a related trial, had her wish granted, but she probably did not like what the District Judge added to the Order, which granted her a final continuance until November 12th.

 

A fair reading of the Order : even if she provides Substantial Assistance to the Government in the upcoming (and oft-delayed) trial, she's going to prison, and not on probation or house arrest (home confinement), if that was her objective.

 

Allow me to quote from the Order:

 

"Although the Court has no opinion on what Defendants' sentences in this case will be, Probation's initial calculation of the Advisory Sentencing guidelines range reflects a range that includes substantial jail time, even on the low end.

 

Thus, while the Court does not preclude any type of sentence at this time, it does not appear now that sentencing Defendants* before the other trial occurs will result in Defendants' spending time in prison that they otherwise would not. "Order at 2.

 

The Court went on to say that the Defendants could raise this issue at sentencing if they still have concerns, if the other case is again delayed.
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 * She has a co-defendant, her close friend, Stacie Weinstein, See my earlier articles for details.

 

 

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KIMBERLY ROTHSTEIN SCARED TO GO TO PRISION

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA   ~Contributed & Written by Kenneth Rijock ~

 

PONZI SCHEMER'S WIFE ASKS FOR YET ANOTHER DELAY IN HIS SENTENCING

Kimberly Rothstein, the wife of convicted Ponzi schemer (and ex-attorney) Scott Rothstein, has asked the Federal Judge in her own case to again delay her sentencing, which is currently set for 7 October.

 

Mrs. Rothstein, who pled guilty to three charges, including money laundering conspiracy and obstruction of justice, reportedly faces a maximum five-year sentence.

 

Her husband is serving a 50-year sentence, and she intended to have him lie about the disposition of the missing jewelry, which is witness tampering.

 

In her attorney's motion, the defendant asks that her sentencing be delayed until she can testify against two of her co-conspirators.

 

Readers of this blog will recall that she attempted to hide, and later sell off, the bulk of her extensive jewelry collection, to prevent it from falling into the hands of the court-appointed trustee, who was assembling assets to repay victims of her husband's massive $1.2bn Ponzi scheme.

 

The defendant stated that she intends to testify against those who aided and abetted her in the fraud.

 

She hopes that this Substantial Assistance will qualify her to receive a 5k1.1 motion, from the US Attorney, so that she will receive a shorter sentence than the Sentencing Guidelines recommend.

 

In an obvious attempt to mollify the judge, who had previously stated that she would not be granting any other delays in sentencing, counsel's motion included the statement that Mrs.

 

Rothstein was ready to begin serving her sentence right after the sentencing hearing, rather than have the customary period generally afforded defendants to get their personal matters in order, prior to surrendering.

 

 

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KIMBERLY ROTHSTEIN'S LAWYER SCOTT SAIDEL CHARGED FOR MONEY LAUNDERING,TRYING TO REDUCE HIS OFFENSE LEVELS.

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA ~ Contributed & Written by Kenneth Rijock

ATTORNEY CHARGED IN ROTHSTEIN PONZI SCHEME SIDESHOW OBJECTS

Final destination The lawyers for Scott Saidel,Kimberly Rothstein's personal attorney, who is awaiting sentencing for his involvement in efforts to hide assets of the Ponzi scheme, are trying to reduce his offense level, and their motion reveals another important reason why professionals, including bankers, must discover, early on, any Ponzi schemers in their client base.

Otherwise, they may face enhanced penalties, due to what are referred to as "Special Skills."

Saidel, who had pled guilty to conspiracy to launder money, obstruct justice, and tamper with witnesses, has argued, through his counsel, that he did not utilize Special Skills to move the money, and that he advised his client, Kimberly Rothstein, not to ask her imprisoned husband, Ponzi schemer Scott Rothstein, to lie under oath.

Saidel says he told Kim not to do that. Apparently there is a dispute over  who said what to who, and when. Remember, a friend of Kim Rothstein is also a defendant in the case, and contesting the facts as the lawyer has related them.

Now we see how differences in the memories of the Ponzi players, and their attorney, who is now also a defendant, complicate the amount of prison time that the attorney may receive.

Whether the lawyer has altered the true facts, in a self-serving manner, to minimize his involvement, and therefore, potentially, his sentence, is not known, but you as a professional should never facilitate any criminal conduct that you know to be occurring, lest you be facing Federal Prison time, like Mr. Saidel.

If you have any suspicions that a client is engaging in a Ponzi scheme, confirm your facts through independent investigation, and take immediate action, in line with your lawyer's advice, to disengage from the client, and,  when so advised, disclosing what you know, in the appropriate forum , or to the relevant agency.

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SCOTT ROTHSTEIN'S WIFE TRIAL DELAYED AGAIN

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA~Contributed & Written by Kenneth Rijock ~

PONZI SCHEMER'S WIFE'S TRIAL DELAYED 

A SECOND TIME.

Being the wife of a Ponzi schemer can be hazardous, if prosecutors learn that you have crossed the line from innocent spouse, into criminal activity, they may indict you, long after your husband shuffles off to prison.

Kimberly Rothstein, the trophy wife of convicted Fort Lauderdale attorney/Ponzi schemer, Scott Rothstein, who faces a sentence of five years in Federal Prison, for attempting to conceal from the bankruptcy trustee, and ultimately sell, millions of dollars of jewelry, paid for by the scheme, has had had her sentencing hearing delayed, for the second time.

Mrs. Rothstein, who, along with those of her co-conspirators who have already pled guilty*, is obviously being saved for testifying against those who are taking the case to trial. She will have to suffer the embarrassment of returning to the community, after serving what will be a shortened sentence, where everyone will remember her greedy role in the billion dollar case, for a long, long time.

I wish everyone who was ever tempted to participate in a Ponzi scheme could follow her journey; from court testimony, to a conviction, to her serving her sentence, and then, coming out of prison, serving years of Supervised Release, before gaining her complete freedom. Her future is not bright; her husband is serving a 50-year sentence.

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Scott Saidel | 5 YEARS OF PRISON FOR MONEY LAUNDERING CONSPIRANCY

 FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA ~ Written & Contributed By Jonathan Stempel

 LAWYER FOR WIFE OF PONZI SCHEMER SHOULD GET FIVE YEARS FOR MONEY LAUNDERING 

 

Kimberly Rothstein

Lawyers close to Ponzi schemers, and who feel that they are above the law, can get burned. Scott Saidel, the attorney for Ponzi wife Kimberly Rothstein, and who has pled guilty to Money Laundering Conspiracy, is expected to receive five years in Federal Prison, for his conspiracy with his client, who was attempting to conceal substantial assets of the Ponzi scheme for herself.

In an act that was the height of arrogance, Saidel conspired with Kim Rothstein, her friend, and their jewelers, to secretly sell off assets, and lie about them.  The attorney intended to quietly hide the funds in his trust account. He has already forfeited $65,000, and a fine is expected. He has already surrendered his law license in Arizona, and Florida Bar will act after sentencing, scheduled for 15 July.

The moral of the story: if you are the counsel for anyone involved in a Ponzi scheme, expect that if you cross the line, you will pay the price. Your co-conspirators will give you up in a heartbeat, for favourable treatment at the time of sentencing. Do not, under any circumstances, break the law for your clients.

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KIMBERLY ROTHSTEIN DECLARES AGAINST HER COCONSPIRATORS

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA

~Contributed & Written by Kenneth Rijock ~

SENTENCING OF WIFE OF PONZI SCHEMER SCOTT ROTHSTEIN DELAYED TO ALLOW HER TO TESTIFY AGAINST HER CO-CONSPIRATORS

As the saying goes, there is no honour amongst thieves; individuals who are arrested for criminal activity, and who agree to perform substantial assistance to shorten their sentence, are often distressed to learn that their cooperation with law enforcement, against their co-conspirators, is a matter of public record. The public has a right to know.

The attorney for Kimberly Rothstein, the trophy wife of convicted and imprisoned Ponzi schemer Scott Rothstein, has filed an unopposed motion to continue her upcoming sentencing. Mrs. Rothstein is facing five years for conspiracy to obstruct justice, money laundering conspiracy and witness tampering, but her court filing indicates she intends to testify against two of the individuals who conspired with her to conceal her jewelry, including the 12k diamond, from the bankruptcy trustee, who was accumulating assets to pay the victims of the Ponzi scheme.

The US District Judge has delayed her sentencing until she can testify in the upcoming trial* against Patrick Daoud and Eddy Marin. As you can see, things get ugly for participants in a Ponzi scheme. 

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* Case No.: 12-cr-60205-KAM (SD FL) .

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