FORT LAUDERDALE, Fla. - Irene Shannon was sentenced to 5 years Friday in Miami for her role in Scott Rothstein's $1.4 billion fraud.
Shannon, also known as Irene Stay, was the Rothstein, Rosenfeldt and Alder's chief financial officer. The former bookkeeper oversaw the accounting functions -- including deposits and withdrawals.
"She was well aware that hundreds of millions of dollars were not being held in trust accounts for investors," a U.S. Department of Justice news release said.
Shannon, 50, also told prosecutors she floated checks between accounts to launder money from 2005 to 2009. The money was used to issue checks to co-conspirators, cover overdrafts, for operating expenses, and for luxury items that included houses and cars.
The scheme imploded October, 2009. Rothstein had Shannon wire $16 million before he fled to Morocco. Rothstein returned, plead guilty in 2010 and was serving 50 years in prison.
Shannon said she was not aware of the magnitude of Rothstein's scheme and was just following orders. Shannon did not have a college degree or any experience in finance. Prosecutors said she knew that it was wrong. Her husband worked at the firm. Rothstein often gave them gifts. She was making $250,000 and her husband $200,000.
On April 16, she was charged with conspiracy to commit money laundering and bank fraud through the operation of the former Fort Lauderdale law firm. On May 21st, Shannon plead guilty. U.S. District Judge Ursula Ungaro said she must surrender to prison Dec. 1.
RIGHT HAND: Debra Villegas was sentenced to 10 years in prison, which she is set to complete March of 2020.
FIRM LAWYER: Christina Kitterman was sentenced to 5 years in prison.
ATTORNEY: Douglas Bates was sentenced to 5 years in prison.
BSO LT.: David Benjamin was sentenced to 5 years.
UNCLE BILL: William Boockvor, Rothstein's uncle, was sentenced to 4 years and ordered to pay millions in restitution.
MAFIA TIES: Roberto Settineri, of Miami Beach, was sentenced to 4 years in prison.
CLUB OWNER: Stephen Caputi posed as a bank official to trick investors. He was sentenced to 5 years and his sentence was reduced to 3.5 years. He was also ordered to pay millions in restitution.
FIRM TECH: Curtis Renie was sentenced to 3 years and ordered to pay millions in restitution.
FIRM TECH: William J. Corte was sentenced to 3 years and one month, and was ordered to pay millions in restitution.
WIFE'S ATTORNEY: Scott Saidel was sentenced to 3 years in prison.
FIRM LAWYER: Steven Lippman was sentenced to 3 years in prison and after cooperating with authorities -- it was reduced to two years.
FIRM PARTNER: Russell Adler was sentenced to 2.5 years in prison.
FIRM LAWYER: Howard Kusnick was sentenced to 2 years in prison. He was released last year.
MRS. ROTHSTEIN: Kim Rothstein was sentenced to 18 months in prison.
DETECTIVE: Jeff Poole was sentenced to one year and one day.
JEWELER: Patrick Doud was sentenced to 10 months of house arrest.
BUSINESSMAN: Eddy Marin was sentenced to 10 months in prison.
FRIEND: Stacie Weisman was Kim Rothstein's friend. She was sentenced to 9 months of house arrest and three months in detention.
ASSISTANT: Marybeth Feiss was sentenced to six months in prison.
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