Gibraltar Bank Shares Next on Rothstein Auction Block
The trustee unraveling the Scott Rothstein Ponzi scheme will auction off 50,000 shares in Gibraltar Private Bank & Trust once owned by the jailed Ponzi scammer.
December 09, 2015 at 10:00 AM
4 minute read
The trustee recovering money for victims of the Scott Rothstein Ponzi scheme has more Rothstein assets to auction off: 50,000 shares of Gibraltar Private Bank & Trust Co.
Rothstein bought the shares — then representing 5 percent of the bank — in 2009 for $5 million, according to Miami lawyer Paul Singerman, who represents trustee Michael Goldberg of Akerman.
Gibraltar Bank is not the only bank in which the Ponzi scammer owned shares. In 2013, the U.S. Marshals Service auctioned off Rothstein's 150,000 shares in Broward Bank Financial Holdings, the parent company of Broward Bank of Commerce. The shares represented 9 percent ownership in the bank.
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