(Corrects location of court to Ft. Lauderdale from Miami, in 7th paragraph)

* Disbarred lawyer admits role in $1.2 billion fraud

* Agrees to forfeit properties, autos, jewelry, cash

* Faces up to 100 years in prison (Adds Rothstein lawyer’s comment)

By Dan Margolies

WASHINGTON, Jan 27 (Reuters) - Disbarred South Florida lawyer Scott Rothstein pleaded guilty on Wednesday to orchestrating a Ponzi scheme that bilked clients out of more than $1 billion.

Rothstein, 47, who fled to Morocco in late October but returned to Florida in early November, faces up to 100 years in prison when he is sentenced May 6.

Rothstein acted with co-conspirators to carry out a $1.2 billion Ponzi scheme, creating false bank documents that conned investors while providing “gratuities to high-ranking members of police agencies” in order to deflect law enforcement scrutiny, according to court documents.

The cigar-chomping lawyer, a frequent campaign contributor often photographed with local politicians, lived a lavish life, with opulent homes and a fleet of expensive foreign sports cars. He used his connections and charm to lure wealthy friends and patrons to invest with him.

He has agreed to forfeit assets including properties in Fort Lauderdale and other cities in Florida; more than a dozen automobiles, including a Bentley convertible, two Ferraris, two Mercedes Benzes and a Rolls Royce convertible; hundreds of pieces of jewelry and watches; and millions of dollars in bank accounts, according to court documents. He has also agreed to give up his interests in a variety of businesses.

The Republican Party of Florida has agreed to turn over to the government tens of thousands of dollars in contributions received from Rothstein, and the office of Florida Governor Charlie Crist has agreed to hand over $9,600 in campaign contributions, the court documents showed.

Rothstein’s lawyer, Marc Nurik, said his client’s guilty plea in federal court in Ft. Lauderdale was “a continuation of the process that Scott began when he voluntarily returned from a non-extraditable country and turned over all of his assets, worth conservatively $60-plus million, to the government. And now he’s admitting to all of the crimes he was charged with.”

Rothstein was a founder and the managing partner of the law firm Rothstein Rosenfeldt Adler PA, which had about 150 employees and was placed in receivership in November.

In his plea agreement, Rothstein admitted that he falsely told would-be investors that his law firm clients wanted to borrow money for undisclosed business deals and had agreed to pay high rates of interest.

He also admitted that he and unnamed co-conspirators sold nonexistent settlements in sexual harassment and whistleblower actions. In one case, a potential investor was solicited to buy a settlement valued at $450,000 for $375,000. The investor was to receive $150,000 a month for three months.

Prosecutors said the schemes were fraudulent, with money from new investors used to pay off previous investors -- a classic Ponzi scheme.

Federal prosecutor Jeffrey Kaplan said the government was continuing to investigate Rothstein’s scam. So far, only Rothstein has been charged. (Reporting by Dan Margolies; editing by John Wallace)