A South Florida judge handed down a five-year prison sentence to a man authorities say aided Scott Rothsein's massive $1.2 billion Ponzi scheme by posing as a banker, journalist, and fake plaintiff in a lawsuit. Stephen Caputi, 53, received the sentence after previously pleading guilty to one charge of conspiracy to commit wire fraud. Caputi is the third person to be sentenced to prison for his role in Rothstein's fraud.
According to authorities, Caputi played several roles in efforts to help convince Rothstein investors that their funds were safe. This included posing as a TD Bank executive and providing investors with false account statements portraying steadily growing holdings. Caputi also pretended to be a journalist with the Wall Street Journal and a plaintiff in a fake lawsuit. Rothstein and Caputi were also business partners in a Pembroke Pines nightclub, Cafe Iguanas.
Rothstein is currently serving a 50-year prison sentence for orchestrating the scheme.