Scott Rothstein Fraud Case of Pertinent Facts

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MEMO
To: Legal Committee
From: XYZ
Date: 11 October 2010
Subject: Investigation of Scott Rothstein fraud case
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We would like to present the details about the Scott Rothstein fraud case and in the investigation provide answers to key questions, like, how did it happen, what were the driving factors, who were the victims, and what the lawsuit against Rothstein was.
Introduction
The fraud case affected several investors who claim that they have lost fortune in the massive scam that was brainwork of Scott Rothstein. Rothstein, along with Toronto Dominion bank employees duped investors into believing that their investments were lucrative. The seriousness of the crime is self-evident. Approximately $1.2 billion was invested resulting in a loss of over $400 million to over 400 investors. The Rothstein case is different from other cases in the way that Rothstein infiltrated many spheres of public interest; he was in Politics, sports, charities, society page, commercials, legal profession and many more. From a small scale, the Ponzi scheme started by Rothstein took the form of a huge tsunami that swept away hundreds of people. The fraud of such a high magnitude should be handled by the law in such a way to create learning for those who would have slightest of iota of doing the same thing.
Main Investigation
The Ponzi scheme
Rothstein's investment scheme involved purchasing fabricated "structured settlements," in which people sell large settlements in legal cases for lump sums of cash. According to FBI's estimates the scheme made up to a billion dollars from lucrative whistle blower and employment discrimination cases. The investors would make up-front cash payments to individuals' owed money from the court cases to buy the right to collect the full amount of the settlements later (Fletcher, Pascal, 2009). ...