|Scot Rothstein and Russell Adler|
Russell Adler, a name partner in convicted Ponzi schemer Scott Rothstein's Fort Lauderdale, Florida law firm, entered a plea of guilty this week, to violations of Federal Election law. he admitted to"bundling" illegal campaign contributions for Rothstein, and making donations in his own name, only to be quietly reimbursed via bogus bonus payments from the law firm.
Rothstein sold fabricated legal settlements, from non-existent employment discrimination, sexual harassment, and whistleblower cases, to investors, claiming his law firm represented the victims, who merely wanted an early payout, at a deep discount. Reports say that he pled guilty, in large part, to avoid the filing of criminal charges against his wife, as well as a possible RICO charge against himself. He is obligated testify at the trial of any other Ponzi scheme participants subsequently indicted; note that the third name partner in the law firm, Stuart Rosenfeldt, has not yet been charged.
This case serves as a blunt reminder that everyone, even those on the fringes, with minor roles, in a Ponzi scheme, is often targeted by the law enforcement agencies that bring down the principal offenders. Should you have any suspicions that anyone with whom you or your company or bank are dealing is operating a Ponzi scheme, it is advisable to initiate an enhanced due diligence investigation forthwith, and consult legal counsel, to ascertain your options, lest you get caught up in a nightmare.