Several New York hedge funds that funneled hundreds of millions of dollars into Scott Rothstein’s Ponzi scheme have agreed to settle a lawsuit brought by his law firm’s bankruptcy trustee for $32 million in cash.
The proposed settlement with Centurion Structured Growth LLC, Level 3 Capital Fund LP, Platinum Partners Credit Opportunities Fund LP, Platinum Partners Value Arbitrage Fund LP and Regent Capital Partners LLC is one of the largest to date for investors trying to recover what they lost in Rothstein’s $1.2 billion fraud.
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