Rothstein Ponzi victims may get paid back in AmEx points
A Florida lawyer charged in a $1.2 billion fraud apparently heeded the American Express slogan "Don't leave home without it."
A Florida lawyer charged in a $1.2 billion fraud apparently heeded the American Express slogan “Don’t leave home without it.”
Court records show Scott Rothstein racked up more than 20 million reward points on his American Express account. Cardholders typically receive one point for every dollar spent.
Federal authorities want to use the rewards to pay back victims of Rothstein’s alleged Ponzi scheme.
The once-prominent attorney agreed last week to enter a guilty plea later this month. A grand jury indicted him on five counts of racketeering, conspiracy and fraud for allegedly bilking thousands of investors from 2005 to 2009.
Prosecutors say investors paid in exchange for the promise of returns from legal settlements that turned out to be bogus.
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