Scott Rothstein plead not guilty today to running a $1.2 billion Ponzi scheme.
But given that he’s facing 100 years in prison and has been denied bail, this doesn’t mean a plea deal isn’t possible:
AP: A few hours after his arrest, Rothstein pleaded not guilty in federal court even though the information charging document — rather than an indictment — used by prosecutors typically means a defendant has agreed to eventually plead guilty.
“There is no deal at this point in time,” said Rothstein attorney Marc Nurik. “At the end of the day, the people who deserve to get money back hopefully will.”
The charging document — below — cites unnamed “other conspirators” who also played key roles in the fraud, suggesting that more people could face charges. That includes unidentified police officials who were paid “gratuities” “to deflect law enforcement scrutiny.”
Here’s the full filing, via WSJ Law Blog:
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.