Money Manager to Stars Accused of Fraud

0

He was the moneyman to the stars, entrusted with managing fortunes for the likes of Wesley Snipes, Sylvester Stallone and Annie Leibovitz.

But when they arrested him on Thursday, federal prosecutors described him as something else: a mini-Madoff who diverted $30 million of his clients’ money to buy himself a sprawling Upper East Side condo complete with an indoor swimming pool and a 1,500-square-foot garden.

Much like Bernard L. Madoff, who is serving a 150-year sentence for bilking tens of billions of dollars from his closely knit network of clients, prosecutors say, Kenneth I. Starr of Manhattan cultivated business at charity events and lavish parties, bridging the worlds of New York and Hollywood to build a star-studded client list of socialites, financiers, philanthropists, A-list actors and Hall of Fame athletes.

&#8226 Read the full New York Times story.

&#8226 Read the full Reuters story.

No posts to display