Litigation

The South Florida Business Journal demonstrates classic shambolic reporting in its coverage of the Imperial Holdings IPO, a subject that Structured Settlements 4Real and Reuters covered on August 13, 2010.

Even though there has been considerable coverage to the contrary about Scott Rothstein's con job, the South Florida Business Journal makes asses of themselves by presenting the following superfluous utterly false statement as fact on Monday August 16, 2010.

"Structured settlements have been in the news in South Florida during the past year because Ponzi schemer Scott Rothstein's $1.4 billion con was based on non-existent structured settlements".

Which "pinhead" at South Florida Business Journal authored the above quote?

It is already well established that what Rothstein was peddling WERE NOT and COULD NOT HAVE BEEN structured settlements. They were putative pre-settlement funding deals. Anyone who actually knew what a structured settlement is would immediately see that.

• As we reported on December 1, 2009, the charging order in the criminal case against Scott Rothstein contains no mention about structured settlements
• On December 30, 2009 the Broward Palm Beach New Times said "With all the scandal and intrigue that followed the fall of Scott Rothstein in early November, it was easy to gloss over the precise instrument he used to commit his billion-dollar-plus fraud. Even for former U.S. Attorneys, like Kendall Coffey. When he sued Rothstein on the firm's behalf, Coffey incorrectly alleged that Rothstein had fabricated "structured legal settlements" as an enticement to investors.
• Structured Settlements 4Real coverage and podcasts on Scott Rothstein Ponzi