Rothstein Ex-CFO Gets 5 Years Prison In Fraud
MIAMI (CBSMiami/AP) – A former chief financial officer of Scott Rothstein's law firm was given the maximum sentence Friday for her role in the $1.2 billion fraud.
Irene Shannon, the former CFO of convicted Ponzi schemer Scott Rothstein's law firm, was sentenced by U.S. District Judge Ursula Ungaro to five years in prison.
Shannon, who pleaded guilty to a conspiracy charge, oversaw much of the accounting and banking at the now-defunct Rothstein Rosenfeldt Adler law firm and was well aware of the Ponzi scheme, according to court documents.
Prosecutors say Shannon, 50, was involved in money laundering and a check-kiting scheme to keep the scam afloat.
Rothstein is serving a 50-year prison sentence after pleading guilty to orchestrating the scam, which involved investments in fake legal settlements. More than 20 people have been convicted in the case.
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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.)
RELATED CONTENT:
