Rothstein Property Sold At Auction For $1.8 Million
FT. LAUDERDALE (CBS4) - Going once, going twice – sold to the couple for the City of Brotherly Love.
A piece of property in Ft. Lauderdale which once belonged to convicted Ponzi schemer Scott Rothstein has been sold at auction to a Philadelphia couple for $1.8 million.
The 13-thousand square foot empty lot, located across the street from Rothstein's waterfront mansion, was not part of the criminal forfeiture proceedings against Rothstein. Instead, he lost it in foreclosure after failing to make its payments.
Buyers Joyce and Paul Schoemaker say they may build on the property or sell it.
Rothstein's seized properties should be on the market soon. He is serving a 50-year prison sentence after pleading guilty to running a $1.2 billion Ponzi scheme involving investments in phony legal settlements.
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