09/11/2010 // West Palm Beach , FL, USA // Tara Monks // Tara Monks
New York, NY – Kenneth Starr pleaded guilty Friday, September 10, 2010, to charges he planned a $60 million Ponzi scheme, as reported by New York Daily News.
Starr, 66, admitted to charges of wire fraud, money laundering and investment adviser fraud. He told the Manhattan Federal Magistrate, Theodore Katz, “Instead of using my clients’ money as I promised, I knowingly used it for my own purposes.”
His clients included Uma Thurman, Wesley snipes and Martin Scorsese. He will likely receive a 10- to 12-year prison sentence and may be forced to pay back as much as $50 million in restitution.
Starr’s bail is set at $10 million. His sentencing is scheduled for December 15.
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