subject: Rothstein Whistleblower on American Greed [print this page] Rothstein Whistleblower on American Greed
On February 23, 2010, "American Greed" will feature Scott Rothstein, the con artist responsible for the largest fraud in South Florida history. From dozens of lavish cars, watches, homes, etc, the show depicts Rothstein living as though it were raining money. Rothstein sums up his own larger-than-life character by saying, "We're lawyers, if we're not going to break the law, who is." Unfortunately, those individuals who trusted him with their money-and there were many-essentially paid a hefty price. In a preview of the February 23rd telecast, it is revealed that "one investor alone lost 125 million."
For an in depth view of Scott Rothstein's Ponzi scheme and its impact on the people of Florida, read Alan Sakowitz' cautionary tale Miles Away.Worlds Apart: Empowering Lessons Gleaned from Experiences of a Whistleblower. Along with Rothstein on American Greed will be Alan Sakowitz, a whistle blower that notified the FBI that Rothstein was operating a Ponzi Scheme, Fort Lauderdale attorney Jeffrey Sonn, Rothstein's defense attorney Marc Nurik and Sun Sentinel reporter Peter Franceschina.
In a nutshell, Rothstein's Ponzi scheme, which will be discussed in further detail on the show, revolves around selling phony legal settlements to wealthy investors while promising a return of at least 67% to 600%. Though he donated generously to political parties and charities, karma eventually struck back. As the tide turned, he lost his money, the truth came out, and now he is sentenced to fifty years in prison.
Alan Sakowitz showed concern for others by turning Rothstein in and doing everything he could to keep others from "investing" with Rothstein while Rothstein embodies the very essence of greed. Miles Away.Worlds Apart is a tale of two worlds-greed and the good in humanity-colliding because of one man's actions, and provides the younger generations with the opportunity to understand the difference between the American Dream and the American Greed, and the consequences attached to each.
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