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l Contempt Blog: Scott Rothstein Redux Part 3: - The Trojan Horses in the Gibraltar Bank "Settlement"

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This blog will describe the unknown and unpublicized true story and bizarre circumstances surrounding

the longest, still ongoing, civil contempt sanction in U.S. Federal Court history now lasting over 11

years, including an imprisonment of over 6 years.

A Civil Contempt Blog

MONDAY, FEBRUARY 27, 2012

Scot t Rothst e in Redux Par t 3: - The Tro jan Horses

in the Gibra l ta r Bank "Set t lement "

The quick foxes are amok in the chicken coop or similar such thoughts must be in the

minds of the Rothstein victims who actually read the terms of the tainted Rothstein - Gibraltar

Bank bankruptcy "settlement."

Rothstein victims have so far recovered 1/4 billion dollars from TD Bank 67 million from a

recent jury award and from a reported settlement of 170 million. There is more to come.

Recovery from Gibraltar Bank could easily be 1/2 billion dollars ... without the tainted bankruptcy

"settlement," because the Rothstein victims' case against Gibraltar Bank is stronger than the

case against TD Bank (see below).

Yet, the bankruptcy "settlement" only costs Gibraltar a few million dollars (see previous post)

and bars Rothstein victims from any greater recovery from Gibraltar!

The "settlement" enriches the head honchos of local bankruptcy power house Berger Singerman,

including Paul Singerman, by protecting their many millions invested in Gibraltar as partners (co-

shareholders) with Scott Rothstein. Berger Singerman, as lead attorneys for the bankruptcy

estate, for all practical purposes control the bankruptcy estate. Furthermore, public reports about

the "settlement" have ignored the similar protection given to the unidentified 50.

Who or what is the 50? It isn't a movie. They are the unidentified 50 Florida "movers and

shakers" who partnered with Berger Singerman honchos and Scott Rothstein to buy control of

Gibraltar. Entry into that exalted inner circle implied very close personal and/or business

relationships with Berger Singerman honchos and Rothstein because the investment was a

private placement. The investment was made with great secrecy and a deliberate concealment

of the identities of the 50. The reasons for concealing the identities of the 50 are now very clear.

The SunSentinal reported Rothstein testified: "We were involved in public corruption with law

enforcement. We were involved in activities with mob-related individuals. We were involved in

activities involving the physical threats of other individuals. We were involved in the public

corruption side of purchasing of political positions. We were involved in the manipulation of the

judiciary."

Surprisingly, reporters have made no attempt to identify the 50 ... a list that is a "brass ring" goal

for investigative reporting. The list will reveals who Rothstein may have been referring to in his

explosive testimony. Floridians have a right to know which officials and/or prominent individuals

were in bed with Rothstein.

Moreover, as things now stand, the unidentified 50 which likely includes public officials owe

Paul Singerman, and the other unidentified Berger Singerman honcho Gibraltar owners, a great

debt (presumably to be later paid back) for protecting their Gibraltar investments and their

identities.

The case against Gibraltar is stronger than the case against TD Bank:

SEARCH THIS BLOG

Stephan J . Lawrence

I am an M.I.T. graduate and was

originally a financial analyst for

several major brokerages and

private investment firms. I

established a very successful

trading company that collapsed in

the October 1987 crash after

Bear Stearns successfully

embezzled 10's of millions of

dollars from my companies using

backdated fictitious trades that

the Chicago Board Options

Exchange and the Options

Clearing Corp. eventually

admitted never occurred.

View my complete profile

ABOUT ME

2012 (3)

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Scott Rothstein Redux Part3: - The Trojan Horses ...

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Posted by Stephan J. Lawrence at 1:18 AM

Labels: bankruptcy court, bankruptcy victims,Berger Singerman,Gibraltar Bank, Paul Singerman,Scott

Rothstein,Settlement, TD Bank

The essence of the recently won jury case against TD Bank was straightforward. A short

summary of the case was that TD Bank knew of the Scott Rothstein fraud because of the fraud's

size, its longevity and normal banking controls raised many red flags that TD Bank should have

reacted to; all of the signs were there for TD Bank to see a massive fraud was occurring; it is

impossible to believe that TD Bank official didn't know of the fraud but allowed it to continue

because it was profitable to do so. See Business Week article TD Bank Aided Rothstein Fraud,

Investors Lawyer Tells Jury

The case against Gibraltar is stronger than that against TD Bank because Berger Singerman

honchos and Paul Singerman were multi million dollar investors in Gibraltar. The victims, at trial,

would argue that it is impossible for Gibraltar management and owners to not have been awareof Rothstein's schemes more so than TD Bank because Berger Singerman is a local

bankruptcy power house firm that claims to have extensive experience in uncovering complex

financial frauds. They would argue that it is impossible to believe Berger Singerman, with their

extensive "expertise" in ferreting out complex financial fraud, did not see the warning signs of the

massive Rothstein fraud when they conducted due diligence for their multi million dollar Gibraltar

investments. In addition, the government has cited Gibraltar Bank for extensive money

laundering violations. These arguments would carry great weight with a jury and it is not

unreasonable to project awards of upwards of 1/2 billion dollars against Gibraltar in light of the

TD Bank verdict and settlement.

See the next post for the undisclosed and extraordinary hidden "Trojan horses" that are

contained in the tainted bankruptcy Rothstein - Gibraltar settlement. Those Trojan horses further

benefit and protect Berger Singerman honchos ... at the further great expense of the Rothstein

victims.

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