Former law firm CFO charged over $1.2b Ponzi scheme

April, 17 2014

Irene Shannon, onetime CFO of defunct firm Rothstein Rosenfeld Adler in South Florida, is facing a conspiracy charge relating to a Ponzi scheme which has seen her former boss go to prison for 50 years.

Irene Shannon is facing a conspiracy charge relating to a Ponzi scheme Sean Pavone

Referrring to the firm’s former managing partner Scott Rothstein, George L Piro of the FBI said: ‘Scott Rothstein was the mastermind of a massive Ponzi scheme, but he needed a trusted agent who knew how to shuffle money to keep the scheme running. Shannon … transferred millions of dollars and floated innumerable checks in an effort to make it all look legitimate.’ Source: ABA