Kenneth Rijock

Kenneth Rijock

Saturday, January 10, 2015

BROKER WHO SOLD ROTHSTEIN'S PONZI INVESTMENTS GETS TWO YEARS

Even minor players in Scott Rothstein's billion dollar bogus court settlement/Ponzi scheme case are being charged and convicted. Richard L Pearson, a commission broker who sold only $3.3m* of the counterfeit investments, has been sentenced to two years in Federal Prison, followed by one year of Supervised Release**.

Pearson worked through Rothstein Rosenfeldt Adler in-house counsel, David Boden, who reportedly took a kickback from Pearson on his commissions. Boden was also charged, and will be sentenced in the near future. You may recall that Boden was not a member of Florida Bar, though he was responsible for dealing with  state and Federal government administrative agencies, and regulators, in the course of his employment, which begs the question of how he was able to appear before these agencies when not a practicing attorney in Florida. Some administrative agencies require an individual representing a corporate entity to be qualified or formally admitted.

 I think you can expect a longer sentence when the Court gets around to Mr. Boden.
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* It has been reported that the net loss of the victims Pearson sold to was $2.4m .
** Case No.: 14-cr-60229 (SD FL).

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