Another Rothstein Associate Pleads Guilty

Ponzi schemer's former associate faces wire fraud conspiracy charges

Another former associate of convicted Ponzi schemer Scott Rothstein pleaded guilty in South Florida federal court.

William Corte, 38, admitted to wire fraud conspiracy, a charge that carries a maximum five-year prison sentence.

Prosecutors say Corte helped Rothstein's $1.2 billion Ponzi scheme by creating fake Internet pages making it seem that investors' money was safe. The scam revolved around investments in phony legal settlements that Rothstein and others concocted.

Rothstein is serving a 50-year prison sentence after pleading guilty. Prosecutors recently said they would seek a sentence reduction because of Rothstein's cooperation in unraveling his scam and other investigations.

So far five other Rothstein associates have been charged. Prosecutors say more arrests are expected.

Copyright AP - Associated Press
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