Former Rothstein CFO charged in $1.2B Ponzi scheme

FORT LAUDERDALE, Fla. (AP) -- The former chief financial officer of convicted Ponzi schemer Scott Rothstein's law firm has been charged with conspiracy in the $1.2 billion fraud.

South Florida federal prosecutors filed a court document Wednesday charging Irene Shannon in the case. The document contends that Shannon oversaw much of the accounting and banking at the Rothstein Rosenfeldt Adler law firm and was well aware of the Ponzi scheme.

Court records Wednesday did not list an attorney for Shannon. The type of document filed by prosecutors indicates that she will eventually plead guilty.

Rothstein is serving a 50-year prison sentence after pleading guilty to orchestrating the scam, which involved investments in nonexistent legal settlements. More than a dozen people have also been convicted in the case.

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