2 Rothstein Associates Are Targets Of New SEC Charges
Two Fort Lauderdale, Fla.-area financiers are now in big trouble with the Securities and Exchange Commission for allegedly bilking investors through Scott Rothstein's elaborate promissory note scheme. Rothstein, a former glitzy Florida lawyer, is serving 50 years in prison for selling investments in fictitious lawsuits. Now, Hedgeweek reports that the SEC is charging former Rothstein associates George Levin and Frank Preve with taking $157 million from 173 investors to invest with Rothstein, even after they knew his fraud had gone belly-up. The SEC is asking for penalties ,disgorgement, and injunctions against Preve and Levin, Hedgeweek said.