Statement on Jury Verdict in Trial Of George Levin Who Raised $157 Million for Scott Rothstein’s Ponzi Scheme
Director, Division of Enforcement
April 1, 2015
We are pleased with today’s jury verdict finding that South Florida resident George Levin committed securities fraud in connection with two private investment funds that raised more than $157 million from over 150 investors in less than two years. These funds purchased non-existent, discounted legal settlements from former South Florida attorney Scott Rothstein, who was convicted of running a Ponzi scheme. The Commission presented evidence that Levin falsely told investors that the funds had several safeguards to protect their investments, while knowing that the funds were not following those safeguards and procedures. We will continue to hold accountable those who raise monies from investors through fraudulent means.
The SEC filed its civil complaint in May 2012 (see press release)