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Rosenfeldt Takes 5th re Depo Questions About His Pay at Rothstein Law Firm

By Martha Neil

July 2, 2010, 10:06 pm CDT

Stuart Rosenfeldt was a co-partner of Scott Rothstein in the now-shuttered Rothstein Rosenfeldt Adler.

But he essentially knew nothing about the South Florida law firm’s financial operations, Rosenfeldt said in a deposition today, according to the This Just In blog of the South Florida Sun-Sentinel.

Paid $6 million in 2008 and purchasing $85,000 a month in charges covered by the law firm by mid-2009, Rosenfeldt took the Fifth when asked specific questions about his compensation. He likewise declined to answer questions about campaign contributions.

Asked about law firm finances, he said he didn’t know and left everything up to Rothstein, the firm’s managing partner.

“Scott ran the firm, made all the decisions,” Rosenfeldt stated. “If you hired me to manage your firm it’s pretty much guaranteed your firm would go bankrupt.”

Rothstein, who has been disbarred after admitting to his role in a Ponzi scheme now estimated to have involved as much as $1.4 billion and cooperating with authorities, is serving a 50-year federal prison term.

Earlier coverage:

ABAJournal.com: “Trustee Sues Rothstein Partner for $10M, Alleges Charges for Jewelry, Home Repairs & Reptiles”

ABAJournal.com: “Ponzi-Schemer Lawyer Explains Motive: ‘All in the Name of Ego and Greed’”

ABAJournal.com: “Gov’t Seeks 40 Years for Ex-Lawyer Rothstein in $1.2B Case, But Will Sentence Be the Final Answer?”

ABAJournal.com: “Ex-COO for Rothstein Firm Takes Plea, Explains Why She Helped With $1.4B Scheme”