Wife of convicted Ponzi schemer Scott Rothstein faces conspiracy charge
Updated On: Sep 12 2012 07:43:38 PM EDT
Kim Rothstein, the wife of convicted Florida Ponzi schemer Scott Rothstein, has pleaded not guilty to a conspiracy charge after she allegedly hid over $1 million in jewelry from investigators.
After entering her plea, 38-year-old Kim Rothstein was released Wednesday on $500,000 bail and ordered to observe travel restrictions. She offered no comment when questioned by Local 10's Bob Norman as she left the courthouse. Kim Rothstein was swearing shackles on her ankles and handcuffs on her wrists while in court.
According to investigators, Kim Rothstein tried to hide $1 million worth of jewels paid for by her husband. But, according to prosecutors, she tried to hide and keep all the jewelry, which includes diamond rings, bracelets, Rolex watches, and rare coins, adding that all the items were purchased by her husband.
Detectives said she gave a 12-carat diamond ring to Stacie Weisman, who then sold it to jeweler Patrick Daoud for $175,000. Daoud, who made his first appearance in federal court in West Palm Beach on Wednesday, claims he didn't buy the diamond. Weisman will reportedly be called as a witness in Kim Rothstein's trial.
Prosecutors said Rothstein also tried to get her husband to falsely testify that the ring had been sold to a man who is now dead.
"Whether Rothstein ratted out his wife, I don't know. That's the big question: What is Scott's involvement?" said attorney Fred Haddad.
Despite pleading not guilty, John Tucker, Kim Rothstein's attorney, said she will take responsibility for her actions and work out a plea agreement with prosecutors.
"In reference to the charge in the information, she takes full responsibility, 100 percent," said Tucker. "She's human just like we are and she feels bad for all of the victims."
Also expected to plead guilty is Rothstein's former attorney Scott Saidel, who appeared in court with Kim Rothstein. On Thursday, Stacie Weisman is expected to turn herself in.
Kim Rothstein faces a potential five-year prison sentence. Scott Rothstein is serving a 50-year sentence for operating a $1.2 billion scheme involving fake legal settlements.
Copyright 2012 by Post Newsweek. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.