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Photograph by Charles Trainor Jr./Miami Herald/MCT/Getty Images

By Karen Weise and Susannah Nesmith

Rothstein was a major fundraiser for the Republican Party in Florida Photographs by Zumapress/Newscom (4)

“All Ponzi schemes do the same thing: They explode at the end,” says convicted con man Scott Rothstein. While his $1.2 billion Ponzi scheme blew up in 2009, the debris is still falling to earth. In an attempt to get his 50-year sentence reduced, Rothstein is naming accomplices and detailing exactly how his scheme worked.

The now-disbarred South Florida lawyer is in protective custody while he cooperates with government investigators. And...