After making donations upwards of $400 million that were gained by fraudulent means to both major political parties, politicians and charities, Florida lawyer Scott Rothstein is giving at least some of that money back.
Miami lawyers Kendall Coffey and Jeffrey Sonn are helping to defending clients who say the wealthy Rothstein defrauded them of up to $400 million.
“Scott Rothstein solicited investors to buy shares in a structured settlement that purportedly had been reached with a defense industry whistleblower, who wanted instant cash in place of installment payments over time,” according to an article on www.law.com.
According to a New York Times article published Nov. 4, Rothstein’s law firm has been placed in receivership, a type of corporate bankruptcy, and the ensuing investigation could lead to the largest giveback of donations in the state’s history.
Since then, both the Democratic Party of Florida and the Republican Party of Florida have given back sums totaling more than $350,000, which came from Rothstein.
Other politicians given donations from Rothstein that are believed to be fraudulent include Republican Sen. John McCain and Democrat Harry Reid, Senate majority leader.
Kendall Coffey said it is still uncertain how many people might be affected.
He said it appeared to be a small group, with large claims.
“The ones described to me had claims in at least seven figures,” Kendall Coffey said.