South Florida Sun-Sentinel


previous Previous entry: Exploding toasters and financial products
previous Next entry: IRS refund: It really is your money, come and get it

Back to main page

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."

POSTED IN: None

Discuss this entry

Comments

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.

Post a comment

To help keep spam off our site, please enter the letter "u" in the field below:

About This Blog

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... < More >

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...< More >

Powered by Movable Type 3.36
Hosted by LivingDot

Add It's Your Money: Personal finance | Sun-Sentinel Blogs to Technorati Favorites