3 Years In Prison For Atty. In Rothstein Ponzi Scheme Case
FORT LAUDERDALE (CBSMiami) – A former law partner of convicted Ponzi schemer Scott Rothstein has been sentenced to three years in federal prison.
A federal judge on Friday also ordered 50-year-old Steven Lippman to pay $194,000 in restitution and fines. He previously pleaded guilty to conspiring to violate federal election laws and to commit bank fraud.
Lippman must report to prison Nov. 14.
Prosecutors say Lippman, who was a shareholder in Rothstein's now defunct law firm, Rothstein, Rosenfeldt and Adler (RRA), made sizable contributions to John McCain's 2008 presidential campaign and then was illegally reimbursed by Rothstein. Prosecutors say Lippman also used a bank account he controlled to artificially inflate the value of the Rothstein firm's accounts and fraudulently obtain additional financing.
Rothstein is currently serving a 50-year prison sentence after pleading guilty to racketeering, money laundering and fraud. He is serving the sentence in an undisclosed location after helping authorities prosecute a reputed Mafia figure.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
