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Suit says law partners overpaid by $18M

MIAMI, Feb. 12 (UPI) -- Bankruptcy lawyers in Florida are pressing partners of Ponzi scheme operator Scott Rothstein to return $18 million in ill-gotten gains, court documents show.

Rothstein, a partner at Rothstein, Rosenfeldt Adler, pleaded guilty to five felony counts in January connected to a $1.2 billion Ponzi scheme.

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Lawyers for Stuart Rosenfeldt, Russel Adler and law partner Steve Lippman said their clients were unaware of the Ponzi scheme, the South Florida Sun-Sentinel reported Friday.

"I'm sure as the facts are brought to light, it will be made clear that Stuart (Rosenfeldt) did not knowingly take any money wrongfully," said his attorney, Bruce Lehr.

While much of the money was spent on lavish lifestyles, large sums were also given as campaign contributions, including bonuses that were given away with very short turnaround time, court papers say.

The suit says the partners in the firm earned about $300,000 a year.

Rosenfeldt, however, has been paid $8.8 million since 2006 and Lippman was paid $4.3 million, the Sun-Sentinel reported. Adler has been paid $1.4 million since 2007, the lawsuit says.

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