MIAMI, Jan. 6 (UPI) -- Accused Florida Ponzi scheme attorney Scott Rothstein will plead guilty to racketeering and conspiracy charges, his attorney said Wednesday.
Rothstein's lawyer, Marc Nurik, said after a hearing at Miami federal court Rothstein would enter the plea by the end of the month as a part of a deal struck with prosecutors, the South Florida Sun-Sentinel reported.
The newspaper said Rothstein, accused of running a $1.2 billion investment scam, will ultimately face a sentence to be determined by U.S. District Judge James Cohn. The formerly high-flying attorney could face a jail sentence of up to 100 years.
Rothstein, 47, was arrested Dec. 1 and charged with operating a massive Ponzi scheme since 2005 through selling bogus legal settlements to investors, many of whom are now suing him in civil litigation.
"Scott Rothstein dealt with only a very limited number of people," Nurik told the Sun-Sentinel. "He is surprised at the amount of people who actually claim to be investors."
The lawyer added it's unlikely prosecutors will need Rothstein's cooperation to bring charges against any of his alleged partners in crime.
"I don't believe the government needs him for that," Nurik said.
