Accused Florida Ponzi mastermind Scott Rothstein has decided to plead guilty to charges he ran an investment scheme that bilked clients out of more than $1 billion, authorities said on Wednesday.
Marc Nurik, an attorney for Rothstein, announced the jailed and disbarred lawyer intends to plead guilty during a brief morning appearance with his client in federal court in Fort Lauderdale, Florida.
A Jan. 27 date was set for a formal hearing when Rothstein, who faces up to 100 years in prison if convicted on all counts, will change his initial plea of not guilty to racketeering and fraud conspiracy charges.
Rothstein, who fled to Morocco in late October but returned to Florida in early November, has been held without bond since he surrendered to the FBI last month.
