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Episode 42: $1.2 Billion Scam: Ft. Frauderdale

Case File

American Greed: Scott Rothstein
Bernie Madoff is a tough act to follow, but disbarred attorney Scott Rothstein is holding his own thanks to his role in a $1.2 billion scheme. News of the scandal is splashed across Florida and New York papers when the story breaks.

$1.2 Billion Scam: Ft. Frauderdale

  • The Lawyer
  • Scott Rothstein opens a Ft. Lauderdale law firm. He's determined to make it the biggest and best. But Rothstein needs capital and cash to feed his appetite. How will he become an overnight success?
  • The Con
  • He develops a scam. Rothstein sells fake legal settlements to wealthy investors. The scheme attracts hundreds of investors who pay millions for settlements that don't exist. Rothstein promises a return of 15% or more. It all sounds too good to be true... and it is.
  • The Celebrity
  • In the world of the super rich, attorney Scott Rothstein is trying to outspend them all. He becomes a local celebrity. He's go-to-guy for politicians in need of money and the source of enormous donations for local charities.
  • The Lifestyle
  • Rothstein showcases his wealth. He drives a fleet of luxury cars…a Mazeratti, Ferrari and a Bugatti. There's a yacht named for his wife, the "Princess Kimberly." He lives in an opulent house where even the toilets are made of gold.
  • Rothstein spends money like it will never run out…but when it does, the devastating truth is revealed.

Web Extras

  • American Greed: Scott Rothstein  Friday, 11 Feb 2011 | 12:02 AM ET

    Bernie Madoff is a tough act to follow, but disbarred attorney Scott Rothstein is holding his own thanks to his role in a $1.2 billion scheme. News of the scandal is splashed across Florida and New York papers when the story breaks.

  • After Madoff: Most Notable Ponzi Scams
    By:
    Tuesday, 22 Feb 2011 | 4:29 PM ET
    South Florida attorney Scott Rothstein was the mastermind behind the biggest Ponzi scheme in that state's  history. Known for his lavish spending and charitable contributions, Rothstein also helped raise money for 2008 Presidential hopeful John McCain.In June of 2010, he received a 50-year prison sentence for running a $1.2 billion investment scam through his firm Rothstein Rosenfeldt Adler. Rothstein said he didn't deserve more than 30 years because he pleaded guilty, spilled his guts to the fe

    Here, we take a look at some of the most notable Ponzi scheme scams to come to light since the Bernard Madoff case.

  • Ft. Lauderdale Ponzi Scheme  Monday, 14 Feb 2011 | 12:01 AM ET

    American Greed reveals the story behind the largest Ponzi scheme in Florida history. Attorney Scott Rothstein was charged in a $1.2 billion dollar scam. Prior to his arrest, Rothstein was interviewed at his holiday party in December 2006.

  • Billion Dollar Scam  Monday, 14 Feb 2011 | 12:02 AM ET

    South Florida attorney Scott Rothstein was the mastermind behind the biggest Ponzi scheme in state history. Known for his lavish spending and charitable contributions, Rothstein also helped raise money for 2008 Presidential hopeful John McCain.

  • The Exhibit Friday, 7 Sep 2012 | 11:23 AM ET

    Scott Rothstein lays out his scheme in this letter to the judge.

  • The Diagram Thursday, 19 Apr 2012 | 9:26 AM ET

    Rothstein’s scheme was no simple plan. Check out the prosecutor’s diagram for where the money went.

Showtimes

#60 Nicholas Cosmo: All Interest, No Return
Wednesday, June 19th 10p | 1a
#58 Loan Scam / Hawaiian Punched
Friday, June 21st 10p | 1a
#57 Fine Art: A Portrait of Fraud
Saturday, June 22nd 8p | 11p
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