|Published:||Aug 30, 2010 7:37 PM EDT|
|Updated:||Aug 30, 2010 4:37 PM EDT|
FORT LAUDERDALE, Fla. (AP) - An ex-lawyer convicted of running a huge Ponzi scheme in South Florida has been ordered to pay $363 million in restitution to victims.
U.S. District Judge James I. Cohn issued the order Monday in the case of former attorney Scott Rothstein. Cohn said a portion of any wages Rothstein earns in prison will go to repay investors. Rothstein is serving a 50-year prison sentence.
Prosecutors say they hope Rothstein's seized assets and bank accounts could eventually bring up to $60 million for restitution. That would still leave investors with just pennies on the dollar.
Rothstein, 48, has admitted operating a $1.2 billion Ponzi scheme using false legal settlements to lure investors. Rothstein did not attend Monday's hearing.
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