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Alleged 'Ponzi' lawyer a Gibraltar Bank owner

Fort Lauderdale attorney Scott Rothstein, under federal investigation for what investors describe as a "Ponzi scheme" running into the hundreds of millions of dollars, invested about $5 million in a Coral Gables-based bank, according to a statement from the bank released Nov. 9.

Gibraltar Private Bank & Trust, with headquarters at 220 Alhambra Circle, was purchased two months ago for $93 million by a group of investors. A Delaware corporation controlled by Rothstein purchased 5 percent of the bank's shares, Gibraltar said in its statement.

Records from the bank were among reams of documents seized last week from Rothstein's law offices by FBI and IRS agents.

A federal judge issued a civil warrant to seize those shares and hold them in trust.

Gibraltar will "continue to safeguard these shares until it receives further instructions from federal authorities," the statement said.

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