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Rothstein banker to take the 5th

The banker at the center of the Scott Rothstein Ponzi scheme scandal, Frank Spinosa who was fired from TD Bank, will take the 5th at his May 19th deposition, according to his attorney Samuel Rabin.

"The Fifth Amendment right against self-incrimination was promulgated for precisely the reason that Mr. Spinosa will avail himself of it -- to protect the innocent from being ensnared in false allegations," Rabin wrote in a May 10 letter to Genovese, Joblove and Battista -- attorneys working for the bankruptcy trustee. "While Mr. Spinosa looks forward to the opportunity to explain his actions that opportunity will not present itself until the government completes its investigation, an investigation we expect to be full and fair and will vindicate Mr. Spinosa."

Though Rabin wants to call the whole thing off, the deposition is expected to take place anyway.

Here is the full text of the letter:


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This appears to be a bunch of crap ... he obviously, and probalby on the advise of counsel, doesn't want to answer any questions that might in anyway help the investigators. I understand and appreciate the value and right of not having to testify against oneself; but more times that not, this is simply a way, most of the time, for guilty parties to evade having to answer reasonable questions. In my personal opinion, in this case it merely seems to be fairly good indication of the man's guilt in these matters.

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