Florida (AP):

A once high-flying attorney who courted politicians and celebrities was arrested yesterday on federal racketeering and fraud charges, alleging he operated a US$1 billion investment scheme involving phony legal settlements.

Lawyer Scott Rothstein was led into the Miami FBI office in handcuffs following his early morning arrest on five charges, including a violation of the Racketeer Influenced and Corrupt Organizations (RICO) law, often used against the Mafia and other criminal organisations. Rothstein was also charged with wire fraud, money laundering, and mail and wire fraud conspiracy. The combined maximum prison term for convictions on all counts is 100 years, according to court documents.