PONZI SCHEMER'S UNCLE, IMPLICATED BY NEPHEW, IS SENTENCED

When attorney Scott Rothstein entered into his plea agreement*, which resulted in a 50-year sentence for his $1.4bn Ponzi scheme, he agreed to testify against a number of his co-conspirators, including member of his family. Rothstein's uncle, William Boockvor, known as "Uncle Bill,"  was sentenced this week to four years in Federal Prison, plus Restitution of $166m, and three years of Supervised Release. The Restitution figure is the amount that prosecutors allege the defendant had a role in.

Bookvor, who reportedly used the alias Bill Brock, provided false ands fraudulent banks statements, which when appended to legitimate letters provided by cooperating bank staff,  deceived prospective investors. In one case, the "statements" falsely showed $20m on deposit in Rothstein's law firm accounts.  The defendant, a former automobile salesman who assisted Rothstein in his massive fraud, pled guilty to a single count of Conspiracy.

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*United States vs. Boockvor, Case No.: 11-cr-60281-DTKH (SD FL).