Scott Rothstein is back in town.
The Broward attorney accused of a Ponzi scheme involving selling legal settlements for investments that resulted in the loss of hundreds of millions of investors' dollars returned to South Florida today, but wasn't present in court this afternoon, where it was determined that a third-party receiver - former judge Herbert Stettin -- would be appointed over the financial accounts of the Rothstein Rosenfeldt Adler law firm.
By not showing up to court, the noted political fundraiser and philanthropist relinquished his position as CEO of the firm, a role now given to partner Stuart Rosenfeldt.
"He is O-U-T out of the picture in terms of any control, power, or influence over the law firm," said Kendall Coffey, the firm's lawyer, of Rothstein.
Coffey also said that he believes the reason Rothstein, who arrived at the Fort Lauderdale Executive Airport early this afternoon and is suspected to have been in Morocco, was a no-show today in court was because he was meeting with federal investigators.
"If I can save the lawyers, I can make [the firm] stronger eventually," said Rosenfeldt. "I love the people who have stayed by my side."
Rothstein, 47, is a major political contributor throughout Florida, donating hundreds of thousands to both state parties. Yesterday, the Florida Democratic Party said it would be returning $200,000 linked to Rothstein's law firm, while the Satete GOP Party said it would be returning $150,000. Florida Governor Charlie Crist also said he would be returning $9,600 donated by Rothstein and his wife Kim.
Between luxury cars and three homes, the Rothsteins have lived high on the hog. In August, Rothstein was one of the purchasers of the former Gianni Versace mansion in South Beach.
Police showed up earlier today outside the law firm, and were called, Coffey explained, for protection and to help avoid any sort of potentially dangerous situation should Rothstein decide to show up.
Rothstein may have been contemplating suicide, sending a gloomy text message to the firm's partners earlier this week, according to the Sun-Sentinel.
"Sorry for letting you all down," he wrote. "I am a fool. I thought I could fix it but got trapped by my ego and refusal to fail and now all I have accomplished is hurting the people I love. Please take care of yourselves and please protect Kimmie (Rothstein's wife). She knew nothing. Neither did she nor any of you deserve what I did. I hope God allows me to see you on the other side. Love, Scott."
Lawyers from the firm believe that their clients could have lost as much as $500 million because of Rothstein's scheme.
