New Music Wednesday, Part Deux (that's french)

All this talk about Scottie is weighing on me. Although I have to admit, it is getting interesting now that investors are talking about how Scottie and the Firm's General Counsel pitched them to invest, in the Firms's offices. Yup, yup. Makes all those strangely overt repudiations by Scottie's partner Rosencrantz seem even more....implausible?

Alan Sakowitz, a South Florida attorney and real estate developer, told Bloomberg News he was solicited to buy settlements through a broker working for Rothstein.

Sakowitz and his partner met with Rothstein in the firm’s Fort Lauderdale office in August. They sat on a lizard-skin couch as Rothstein stood by a bank of television monitors, a revolver strapped to his ankle. On the wall were pictures of Rothstein with politicians including California Gov. Arnold Schwarzenegger.

Sweet.

Rothstein told them he was selling investments in sex-discrimination and whistle-blower cases that were settled confidentially.

Sakowitz said he considered investing in three $900,000 settlements. Rothstein would pay the clients $660,000 each immediately with Sakowitz’s money, and he would get the full amounts in three payments at 30, 60 and 90 days, he said.
Sakowitz said he was denied permission to meet the clients, see backup documents or talk to the attorneys who worked on the cases.

“When we left, we thought, this is either an unbelievable opportunity or this is a big scam,” Sakowitz said.

Ya think?

Another investor prospective investor balked at Rothstein's proposal because it seemed suspicious and walked away in August after meeting with Rothstein Rosenfeldt Alder’s general counsel, David Boden, in the firm’s Fort Lauderdale office. Boden is not licensed to practice law in Florida.

The offer was to pay about 75 percent of the whistle-blowers’ pre-suit settlement of $900,000 up front in exchange for full payment over time. The investor said the offer dealt with one of more than 100 similar settlements.

Look folks, its simple: if it seems too good to be true, it probably is.

Anyhoo, I needed to clear my head and lacking a G5 to ferry me to Morocco , I drove to the Redlands to pick tomatoes. Really. Don't mock me. Try it sometime.

That's where I heard Cadillac Sky. I know, I know: It's Bluegrass. Don't be such a snob. Turn it up. Give it a listen. You never know, you just might like it.

N.B.: I Was Born Lonesome.