MIAMI, (Reuters) – Federal agents investigating a  prominent Florida lawyer suspected of running an elaborate  Ponzi scheme said yesterday the amount involved could exceed  $1 billion, and they asked bilked investors to come forward.

At a news conference, investigators from the FBI and the  U.S. Internal Revenue Service (IRS) made a public appeal for  information from individuals who had invested in a so-called  Structured Settlement Investment scheme offered by 47-year-old  Fort Lauderdale attorney Scott Rothstein.

Criminal charges have not yet been filed against Rothstein,  who lived a luxury lifestyle and helped bankroll local  politicians, campaign records show.

But a court document filed this week carried allegations  that Rothstein masterminded a scheme in which he sold bogus or  nonexistent legal settlements to unsuspecting investors since  at least 2005.

It said new investor money was used to pay  previous investors in the classic Ponzi scheme model.
Monday’s filing by the U.S. Attorney for the Southern  District of Florida was used to justify the seizure of  properties, luxury vehicles and a yacht belonging to  Rothstein.

Appealing for cheated investors to come forward with  information, John Gillies, Special Agent in Charge of the FBI  Miami Division, said the fraud investigation was going to be  one of the largest ever seen in South Florida.