Convicted Ponzi Schemer Scott Rothstein’s Fla. Home Sells for $5.1 Mil

by The Compliance Exchange on April 20, 2012

From Wall Street Journal:

The former home of Scott Rothstein has sold for $5.1 million. The property was listed for $5.5 million.

Mr. Rothstein bought the home in 2008 for $6.5 million, according to public records. Located on a canal, the 7,500-square-foot home has six bedrooms and nine bathrooms. It was built in 2007 and includes a 1,000-bottle wine cellar, a media room and “gentleman’s lounge” with an air filter and onyx bar. Mr. Rothstein also owned a lot across the street, which is on the market for $2.5 million.

In 2010, Mr. Rothstein, a former lawyer, pleaded guilty to running a Ponzi scheme. He is serving a 50-year prison term. His home originally came on the market in 2011 for $6 million, and then came back on the market in January with a reduced price tag. Based on the terms of a loan, ownership of his Fort Lauderdale home was transferred from the U.S. government back to the home’s builder, Rodney Sarkela.

Tim Elmes of Douglas Elliman Florida represented the seller. The identity of the buyer could not be learned.