Broward News

Kim Rothstein Will Plead Guilty to Felony Charge

Ponzi schemer Scott Rothstein's wife, Kim Rothstein, was charged in September with conspiracy to commit money laundering after it was discovered that she and her pals concealed more than $1 million of jewelry from the federal government, including a 12.08-carat diamond ring worth 450 grand.

Prosecutors say Rothstein, her former attorney Scott Saidel, and her friend Stacie Weisman had cooked up a scheme to sell the jewelry and then persuade Mr. Ponzi himself to lie during a sworn deposition when he was asked about the diamond ring.

All three appeared in a brief court hearing on Wednesday afternoon and say they are ready to take plea deals on February 1 for their roles in the conspiracy.

See also:
Kim Rothstein, Wife of Ponzi Schemer Scott, Charged With Conspiracy to Commit Money Laundering

According to Rothstein's lawyer, David Tucker, Kim will plead guilty to the conspiracy to commit money laundering, obstruct justice and tamper with a witness charge.

"She has accepted responsibility for what she has done and is looking forward to moving on with her life and putting this insanity behind her," Tucker told reporters after the court hearing.

The ring Rothstein purportedly tried to stash and hide from the feds was an intense yellow VS2 radiant-cut colored diamond, which is supposedly very rare and very large. 

Scott had purchased the ring for $403,012 back in July 2008.

These diamonds are graded in the most pretentiously named scale in the history of scales: Fancy. Intense. Vivid.

Kim's ring is labeled as Intense.

Hiding a $450,000 ring from the feds and then pretending it never existed is far cry from the $1.4 billion Ponzi scheme her husband put together, but it's still a pretty big deal.

Scott pleaded guilty to five felony charges for orchestrating the largest investment fraud in South Florida history. He was sentenced to 50 years in federal prison.

For her part, Kim could face up to five years in prison on the federal charge.

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Chris Joseph
Contact: Chris Joseph