Losses claimed by victims of Ponzi schemer Scott Rothstein have ballooned from $188 million to $318 million, while attorneys say recoveries are probably only about $30 million or so.
All told, about $1.2 billion flowed through the former law firm chairman’s Ponzi scheme. Based on the claims for criminal restitution, fraud victims can hope for a recovery of only 9 cents on the dollar. Two other recovery options remain: a pool of money in Rothstein’s defunct law firm’s bankruptcy case and civil suits pending against third parties, including banks holding Rothstein accounts.
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