Kenneth Rijock

Kenneth Rijock

Thursday, October 16, 2014

BROKER PLEADS GUILTY IN SCOTT ROTHSTEIN PONZI SCHEME


Richard Pearson, a broker whose offices* were in the same building as Ponzi schemer Scott Rothstein's law firm, Rothstein Rosenfeldt Adler (RRA), has entered a plea of guilty to Conspiracy to commit Wire fraud, in Federal Court** in Fort Lauderdale, Florida, in connection with sales of Rothstein's non-existent legal settlements. He faces a maximum of five years in Federal Prison, and could be fined up to $250,000 .

Pearson brokered purchases of Rothstein's bogus investments; the victims reportedly lost an estimated $2.4m, from their total investments of $3.3m. The defendant pocketed undisclosed commissions from both Mr. Rothstein, as seller, and the purchasers.
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* RL Pearson & Associates, Inc.
** Case No.: 14-cr-60229-KAM (SD FL).

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