Ponzi schemer Scott Rothstein told federal prosecutors in 2011 that fellow attorney Douglas Bates “was in his pocket.”
Now, the Sun Sentinel is reporting that Bates is the latest South Florida figure to be convicted in connection with Rothstein’s $1.4 billion fraud scheme— a scheme that was exposed in October 2009. Since that date, fourteen other people have gone to federal prison because they committed crimes linked to the Ponzi scheme. Rothstein is serving a 50-year term.
Attorney Bates pleaded guilty in federal court in West Palm Beach to one count of wire fraud in connection with the largest financial fraud case in South Florida history. He faces up to five years in prison and significant fines when he is scheduled to be sentenced on May 1st.