Judge mulls transcript releases in Fla. Ponzi case

AP News
Posted: Dec 13, 2011 7:16 AM
Judge mulls transcript releases in Fla. Ponzi case

A Florida judge is being asked to allow quick release to the public of transcripts of lawyer interviews with convicted Ponzi schemer Scott Rothstein.

A hearing is scheduled for Tuesday afternoon before a federal bankruptcy judge in Fort Lauderdale. A law firm representing some of Rothstein's wronged investors says it's important for the news media to get immediate transcripts so people can understand the fraud's full scope.

Rothstein is serving a 50-year prison sentence after pleading guilty to orchestrating a $1.2 billion scam. It involved use of phony legal settlements that were sold to hundreds of investors.

The scheme imploded in fall 2009. Rothstein has been in a Miami courtroom giving a two-week deposition to investor attorneys who want to know the others involved. Attorneys say Rothstein is naming names.