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Rothstein, more


So many questions I still have about the investments Scott Rothstein was selling.

They looked like structured settlements - which is a legitimate thing that courts approve all the time for injury victims.

But these weren't, by design, structured settlements, that could be sold only with court approval.

They were "pre litigation" settlements. Which appears to be a completely unregulated area, at least under state law.

They don't appear to be registered with any regulator or sold by any licensed broker.

But they were sold.

The offering sheet I have has the figures on what kind of return you'd get. The return is declared to be "Absolute."

And some of them are blacked out, with the word "Gone" written next to them.

"Who would consider an offering that uses the phrase "Gone" in describing the unavailability of a multi-million dollar investment?" said attorney Mark F. Raymond, managing partner of Broad and Cassell in Miami. " This is not an auction of used cars or a mark down event at Brandsmart."

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I am still confused about what the investments entailed? And if the investors thought they were getting the lions share of settlements while the "victims" received a lot less, doesn't that make them just as bad?

Can someone break this down for me? My mind does not work that way.


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About the author
You've got the job of managing your money. No one in school taught you how. But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money last, how to educate the kids, how to make a budget work. The conversations I have with my readers are fun. Money's important, but discussing it does not have to be boring.

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.

Brackey has worked at Business Week magazine and at USA TODAY, where she was a founder and part of the original staff of the Money section at the country's first national newspaper. After nearly 11 years there - spent covering the 1980s bull market, the insider trading scandals, the 1987 crash - Brackey left Washington, D.C., and came to The Miami Herald. She spent the next decade writing a column about personal finance that chronicled the stock market's Internet boom and bust, as well as the popular Money Makeover features.

Brackey also has done commentaries for Marketplace Money, which airs on National Public Radio and The Nightly Business Report which is broadcast on more than 250 PBS television stations nationwide. She also has been a radio guest on WLRN’s Miami Herald News.
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