Fla. attorney accused in financial scheme

FORT LAUDERDALE, Fla., Nov. 3 (UPI) -- A well-known Fort Lauderdale, Fla., attorney is accused of misappropriating funds from wealthy clients in a financial scheme, his firm alleges.

The firm Rothstein, Rosenfeldt and Adler has filed suit against co-founder Scott Rothstein for allegedly misappropriating money from clients for an investment business he allegedly was running on the side, the South Florida Sun-Sentinel reported Tuesday.

"This is a seismic blast that has been shattering for the law firm," Kendall Coffey, a former U.S. attorney hired to represent RRA, told the newspaper.

It reported the firm has imploded, with at least least six of its attorneys resigning from its South Florida offices and 15 others at its Caracas, Venezuela, branch also handing in their resignations.

An attorney for one of Rothstein's investors told the Sun-Sentinel that up to $100 million may be missing. Rothstein's whereabouts remained unknown. His lawyer, Marc Nurik, told the newspaper that Rothstein would be back in Fort Lauderdale as early as Tuesday after getting away to "clear his head."

The newspaper said Rothstein was known as a political operator and a philanthropist who favored sports cars and counted elected officials and sports figures among his social circle.