Friday, September 10, 2010
http://beta.wnyc.org/articles/wnyc-news/2010/sep/10/financial-advisor-stars-pleads-guilty-fraud/
A financial advisor to Hollywood stars has pleaded guilty to fraud and money laundering charges in Manhattan federal court.
Kenneth Starr admitted to stealing his clients' money to cover his personal expenses, including the purchase of a multimillion-dollar luxury condominium on the Upper East Side. Prosecutors estimate that Starr's clients lost between $20 million to $50 million as a result of his fraud. He's facing between 10 and 12 years in prison and will be sentenced December 15.
Former clients included Sylvestor Stallone, Martin Scorsese and Wesley Snipes, but there is no evidence these three celebrities suffered individual losses.