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Fraudster to the stars
Source: Agencies |
September 12, 2010, Sunday
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Print Edition
Print Edition
AN investment adviser, whose clients included film director Martin Scorsese and singer Carly Simon, has pleaded guilty to fraud charges as part of a deal with United States prosecutors who accused him of swindling up to US$50 million.
Kenneth Starr, 66, admitted to wire fraud, money laundering and adviser fraud - three of the 23 counts he was charged with in May.
Since his arrest, current and former clients have said they trusted Starr but should have been more suspicious of the lucrative returns he promised.
His client list included wealthy New Yorkers and celebrities such as film director Mike Nichols, actress Uma Thurman, actor Wesley Snipes and photographer Annie Leibovitz.
"Kenneth Starr's is a tale of fiction and fraud, in which he played the role of legitimate investment adviser to a cast of unsuspecting victims," US attorney for Manhattan, Preet Bharara, said.
Starr's wife, Diane Passage, is a former nightclub pole dancer. In a parallel civil case brought by the US Securities and Exchange Commission, Passage was named as a recipient of possibly stolen funds.
Kenneth Starr, 66, admitted to wire fraud, money laundering and adviser fraud - three of the 23 counts he was charged with in May.
Since his arrest, current and former clients have said they trusted Starr but should have been more suspicious of the lucrative returns he promised.
His client list included wealthy New Yorkers and celebrities such as film director Mike Nichols, actress Uma Thurman, actor Wesley Snipes and photographer Annie Leibovitz.
"Kenneth Starr's is a tale of fiction and fraud, in which he played the role of legitimate investment adviser to a cast of unsuspecting victims," US attorney for Manhattan, Preet Bharara, said.
Starr's wife, Diane Passage, is a former nightclub pole dancer. In a parallel civil case brought by the US Securities and Exchange Commission, Passage was named as a recipient of possibly stolen funds.
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