Prominent Florida Lawyers Indicted In Connection With Alleged Ponzi Scheme: Counsellors or Crooks?

from the South Florida Sun Sentinel website:

Attorneys plead not guilty to Ponzi scheme charges

from Law.com:

Lawyers’ Indictment in Huge Ponzi Scheme Shocks Legal Circles

Both lawyers are charged with money laundering and wire fraud conspiracy. Also charged: executives of defunct Mutual Benefits company

Defendant Anthony Livoti, Jr., also an attorney licensed by the State of Florida, was MBC’s premium trustee, who held millions of dollars of investor money in accounts under his control. Instead of protecting the money entrusted to him, the Indictment alleges that Livoti used money collected from more recent investors to pay premium obligations on older policies as part of a “Ponzi scheme.”