Hollywood financial adviser and accountant Kenneth Starr, who among others cheated Al Pacino, Uma Thurman, and former William Morris CEO Jim Wiatt, pleaded guilty to fraud charges this morning. He admitted to a Ponzi-type scheme in which he lost between $20 million and $50 million of his clients’ money over the past 5 years. “I used a portion of the money for my own purposes,” Starr told an U.S. District Court in Manhattan, according to the AP. Starr has been jailed since his May arrest because he couldn’t pay his $10 million bail. Starr’s fall from grace defrauded some of Hollywood’s biggest names. Not only did he help himself to his clients’ money, but he then moved money from other client accounts to cover shortfalls when questions were asked. The indictment allegeed that Starr used the funds to finance such purchases as a five bedroom condo on the Upper East Side that cost at least $7.5 million with a 32-foot lap pool and a 1,500 square foot garden.
Hollywood Moneyman Kenneth Starr Pleads Guilty To Fleecing Many Celebrity Clients
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