FT. LAUDERDALE, FL – Russell S. Adler, 52, of Ft. Lauderdale, is facing federal charges for his alleged role in a conspiracy to illegally funnel money into political campaigns while associated with the now-defunct law firm Rothstein, Rosenfeldt and Adler, P.A. (RRA). The indictment marks the latest fallout from the sprawling $1.2 billion Ponzi scheme orchestrated by RRA’s founder, Scott Rothstein.
According to a criminal information filed today, Adler, a designated shareholder at RRA, is charged with one count of conspiracy to violate the Federal Election Campaign Act and to defraud the United States, in violation of Title 18, United States Code, Section 371. If convicted, Adler faces a maximum statutory sentence of up to five years in prison. The government alleges Adler knowingly participated in a scheme designed to bypass campaign finance limitations.
The scheme, detailed in court documents, involved RRA reimbursing individuals for political contributions made to various campaigns. Rothstein allegedly enlisted attorneys and staff, including Adler, to make contributions which were then illicitly covered by the firm, effectively allowing them to exceed legal donation limits. This practice aimed to inflate the firm’s political influence and perceived power, prosecutors claim.
“The Federal Election Campaign Act is designed to limit financial influence in the election of candidates,” stated U.S. Attorney Wifredo A. Ferrer. “Russell Adler blatantly ignored and circumvented clearly established campaign finance laws in an effort to increase the stature and apparent political power of RRA. The information filed today against Adler holds him accountable for his acts.” Ferrer emphasized that Adler is the seventh attorney and seventeenth accomplice to face consequences in the Rothstein Ponzi scheme.
Federal investigators revealed that Adler’s contributions included donations to the 2008 presidential primary campaign of John McCain and the United States Senate campaign of Charlie Crist, both of which were allegedly unlawfully reimbursed by RRA. “According to these charges, Russell S. Adler sought to undermine the campaign finance process and will now have to answer for his decision to do so,” said George L. Piro, Special Agent in Charge of the FBI’s Miami Field Office. “This investigation is not over.” Jose A. Gonzalez, Special Agent in Charge of IRS-CI, added that authorities are committed to “following the money trail.”
The case is being prosecuted by Assistant U.S. Attorneys Lawrence D. LaVecchio, Paul F. Schwartz, and Jeffrey N. Kaplan. An information is merely an accusation, and Adler is presumed innocent until proven guilty in a court of law. The FBI and IRS-CI spearheaded the investigation, which continues to probe the full extent of the financial misconduct surrounding the collapse of RRA. Further details can be found on the websites of the U.S. Attorney’s Office for the Southern District of Florida (http://www.usdoj.gov/usao/fls) and the District Court for the Southern District of Florida (http://www.flsd.uscourts.gov or http://pacer.flsd.uscourts.gov).
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Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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