Thaindian News

By Gina Gomez
Fort Lauderdale, Florida, Aug 27, (THAINDIAN NEWS) Florida man Roberto Settineri pleaded guilty of laundering money for Ponzi con man Scott Rothstein as well destroying the financial records. With regard to the charges of money laundering conspiracy that has been levied against the Miami-based wine merchant, he is likely to face a prison term spanning across four years when he appears for his sentencing that is scheduled to take place in the month of November, later this year.

The 42-year-old wine merchant admitted that he was responsible for moving and hiding the funds that supposedly were the proceeds of Scott Rothstein fraud. At the same time, Roberto Settineri also accepted to have played a pivotal role in being associated with the financial transactions which was instrumental in destroying the documents that were linked to the scheme. The Florida man pleaded guilty of conspiring with the security guards Enrique Ros and Daniel Dromerhauser to carry out the destruction of the documents which held testimony to the $1.2 billion investment racket by Scott Rothstein. As Roberto Settineri has admitted to the crimes that have committed by him, it has been reported that the prosecutors would be dropping the original charges of conspiring to hinder justice and launder money against him which could have fetched him up to 20 years behind bars.

Ponzi con man Scott Rothstein was sentenced to 50 years in jail in the month of June this year after he pleaded guilty to racketeering, fraud as well as a host of other charges that were slammed against him.