FORT LAUDERDALE, Fla. – After two years on the run, an ally of Ponzi schemer Scott Rothstein and his wife, Kim, was arrested and is now in the Broward County Jail.
Eddy Ubaldo Marin, 58, of Fort Lauderdale, has been a fugitive since July 23, 2018, when he was set for a court hearing about using cocaine while out on bond and awaiting his sentencing for securities fraud.
Despite Marin not showing up for court, he was sentenced anyway – to 210 months or 17 ½ years in federal prison.
Marin pled guilty in 2018 as part of a “pump and dump” securities fraud scheme involving shares of a company called Valentine Beauty, Inc.
Prosecutors said that at least part of the securities fraud scheme, for which he was charged, was conducted while he was serving time in federal prison related to a 2014 sentencing for obstruction. Marin admitted to helping Kim Rothstein sell $1 million worth of jewelry, funds which she hid from federal investigators.
Scott Rothstein was sentenced to 50 years for running a $1.2 billion Ponzi scheme, among the largest in history. He was convicted in 2010.
Kim Rothstein was sentenced to 18 months in prison in 2013 for money laundering as a result of the jewelry sale.