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What’s Going on at Rothstein Rosenfeldt Adler Attorney Law Firm?

Hot Gossip of Rothstein Rosenfeldt Adler Attorney Law Firm

It’s not yet clear exactly what’s going on at the prominent Fort. Lauderdale, Florida, law firm Rothstein Rosenfeldt Adler. But something strange is a foot. According to south Florida press reports, the law firm (Rothstein Rosenfeldt Adler) has hired former U.S. attorney Kendall Coffey to investigate allegations involving founding partner Scott Rothstein. According to the above-linked story in the Broward-Palm Beach New Times, the turmoil appears to caused by an imploding investment venture by Rothstein, who is believed to be in Morocco.

“The attorneys in the firm are shocked about allegations being circulated in the last few days about matters that involve one attorney in the firm,” Coffey said to the South Florida Sun Sentinel. “I have been retained by the firm to investigate the matters as quickly as possible and make recommendations about the appropriate course of action.”

Coffey confirmed to the New Times that Rothstein’s investment scheme involved purchasing “structured settlements,” in which people sell large settlements in legal cases for lump sums of cash. It’s not clear how many victims there are or how much money is believed involved.

Coffey told the publication that the law firm will be open for business Monday, but said it’s too early to tell if the firm will survive.

Rothstein, 47, could not be reached for comment.

“He’s been away to clear his head,” said Rothstein’s lawyer, Marc Nurik. “Scott’s out of town for a short period of time. He was always going to be returning at the end of the week. He didn’t flee anywhere. His intention is to straighten this thing out.”

Rothstein’s law firm has grown from seven lawyers in 2002 to more than 70 today, with offices in Boca Raton, West Palm Beach, Miami, Tallahassee, New York and, recently, Caracas, Venezuela. According to the Sun-Sentinel, property records show that in 2008 alone, Rothstein bought a $6.45 million Fort Lauderdale home, a $6 million condo in New York and a $2.8 million oceanfront estate in Narragansett, R.I. He also has amassed an impressive collection of exotic cars worth millions: Ferraris, Bentleys, Rolls-Royces and a pair of 2010 Lamborghini Murcielagos — each worth about $400,000, records show.

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