FORT LAUDERDALE, Fla. -- Scott Rothstein's law firm continued Wednesday to struggle to recover from the billion-dollar Ponzi scheme he is accused of masterminding.

The marquis at the Bank of America building in downtown Fort Lauderdale no longer bears the logo of the Rothstein, Rosenfeldt and Adler law firm. The once thriving practice now occupies a much smaller space on the 16th floor, where bankruptcy accountants and a court-appointed receiver are taking inventory of what little the firm has left.

Firm attorney Kendall Coffey formally notified a judge Wednesday that cofounder Stuart Rosenfeldt resigned as CEO.

His former partner, Rothstein, did not show up for the hearing, which was no surprise. Rothstein has been laying low since the allegations against him came out two weeks ago.

"I'd be astonished if he wasn't under surveillance 24 hours," Coffey said.

The feds have yet to charge Rothstein. Investigators said he duped investors who thought they were fronting lump-sum partial payoffs to plaintiffs in sexual harassment and employment cases in return for the full settlement amount over time.

Rothstein's alleged victims are not pleased to know he is still free.

"I understand the federal government is trying to take their time. It's complicated but, you know, Bernie Madoff was under house arrest the next day," said William Scherer, an attorney for a group of investors.

Rothstein's attorney confirmed to Local 10 Wednesday that Rothstein has voluntarily given up his license to practice law. In accepting his resignation, the Florida Bar indicated it was in the process of disbarring him.

"The Florida Bar has been monitoring the federal investigation of Mr. Rothstein," Florida Bar President Francine A. Walker said in a statement. "While the case is very complex, it became evident that Bar rules may have been violated. The Florida Bar will continue to investigate any violations of its rules by other attorneys who may have been involved in this case."

The Florida Supreme Court will officially disbar Rothstein in a formal hearing in the next few weeks.

"Rothstein's got a lot of debt to pay to society, and that's just the first of many installments," Coffey said.

The Rothstein, Rosenfeldt and Adler law firm will officially file for bankruptcy on Friday, Local 10's Roger Lohse reported.

Meanwhile, a hospital that received a donation from Rothstein recently said it would not retain the funds. Holy Cross Hospital was going to name a new lobby in its women's center after Rothstein but now has decided to put the $1 million he donated into a trust account until authorities determine whether the hospital will have to give it back.