Home -> Law Blog Directory -> Florida Blogs -> South Florida Lawyers

Florida

: South Florida Lawyers

How Not To Run A Law Firm.

There was an amended complaint filed a short while ago in the Rothstein forfeiture proceedings, you can see the Sun-Sentinel article here.

The docket is here and the amended complaint is here.

It's a pretty amazing list of crap if you take the time to absorb it all. Aside from the cars, houses, boats etc., there's also a 10 to 20 grand "guitar collection,"16 DuPont lighters, tens of thousands of AMEX gift cards, and a partridge in a pear tree.

Paragraph 14 is instructive:

In one year, prosecutors wrote, the Rothstein Rosenfeldt Adler law firm brought in just $8 million but salaries for the workforce were $18 million. "The additional $10 million for salaries, as well as the other expenses for operation of the law firm, came from the operation of, and the funds generated , by the 'Ponzi' scheme," according to documents filed by Assistant U.S. Attorney Alison Lehr and Taryn Guariglia, an IRS special agent.

So folks at the firm were paid from allegedly stolen funds?

Also, how is it possible a seventy-lawyer firm could only bring in $8 million in revenues? What kind of business model is that?

Full post as published by South Florida Lawyers on November 23, 2009 (boomark / email).