Kenneth Starr arrested

[existentialist]

chicagotribune.com
Financial Adviser To Celebrities Kenneth Starr Charged With $30M In Fraud
By LARRY NEUMEISTER
Associated Press Writer
11:05 AM CDT, May 27, 2010
NEW YORK (AP)

A financial adviser to celebrities including Wesley Snipes and Sylvester Stallone has been arrested on charges that he carried out a $30 million fraud on his clients.

Kenneth Starr, 65, of Manhattan was charged with wire fraud, investment adviser fraud and money laundering and was awaiting an initial court appearance in federal court in Manhattan. Also arrested in the probe was former New York City Council President Andrew Stein.

. . .

The charges against Starr were announced in Manhattan by federal prosecutors, who scheduled a news conference for later Thursday.

Starr, an attorney, is head of New York-based Starr and Co. and Starr Investment Advisors LLC., which federal regulators said has accounts exceeding $700 million.

[EFerrari]

1. Oh, please let this be real.

[Sinistrous]

5. Unfortunately, this guy is NOT *THE* Kenneth Starr.

Just another NYC shyster.

[EFerrari]

11. Damn. Oh, well. n/t

[Frustratedlady]

2. THE Kenneth Starr? nt

[mod mom]

3. unfortunately not. This one is an investment advisor to the stars.

http://www.nbcnewyork.com/news/local-beat/Manhattan-Investment-Guru-to-the-Stars-Busted-for-Ponzi-Scheme-95014369.html

[Frustratedlady]

Rats! One can only hope! nt

[Kolesar]

10. Wrongo Starr? ... eom

[customerserviceguy]

4. Probably not

The one you know about is 63, this one is 65.

[Lone_Star_Dem]

6. No! This is not Bill Clinton's Ken Starr the attorney

This is Kenneth Starr Investment adviser to the stars.

http://news-briefs.ew.com/2010/05/27/kenneth-i-starr-arrested/

[villager]

8. Nope. Different one...

n/t

[onenote]

7. Different Kenneth Starr, of course.

[existentialist]

9. Too bad,

Sorry to be raising false hopes.

[AnArmyVeteran]

12. Hell, cops invade wrong houses all the time. Why not arrest the 'real' Ken Starr anyway?

What a douche bag Ken Starr is...

[dave29]

13. bwahahah. You had me

Nice

[Sebastian Doyle]

14. Nope, it's not THAT Ken Starr. But it should be.

Apparently this Ken Starr "carried out a $30 million fraud on his clients", who were all rich celebrities. Fair enough, lock him up.

But what about the OTHER Ken Starr who carried out a $70 million fraud on the entire fucking country?? When does he go to jail?

[FarCenter]

15. Also former Manhattan Borough President Andrew Stein, another politician, and a prominet lawyer!

http://www.businessweek.com/news/2010-05-27/financial-adviser-starr-charged-with-fraud-by-u-s-correct-.html

Starr was arrested today by federal prosecutors in New York and accused of fraud, money laundering and lying to a federal officer as part of a $30 million fraud. Also charged was Andrew Stein, the former borough president in Manhattan, who is accused of aiding Starr in the fraud.

Starr, manager of more than $700 million, “systematically defrauded his clients,” Robert Beranger, an Internal Revenue Service agent, said today in a criminal complaint in Manhattan federal court.

“He used his access to famous and powerful clients to burnish an image of trustworthiness, leading his clients to entrust him with management and control of their financial affairs,” sometimes assuming “total control” over their “financial lives.” Beranger said in court papers.

Starr, 65, a nonpracticing lawyer, cheated clients of his New York-based Starr Investment Advisors and Starr & Co., prosecutors said.

In some instances, he solicited investments in what he claimed were “sure deals,” then diverted funds to himself or to associates or risky ventures where he had stake, the government said.

Party Official

The associates included his son, Stein, an unidentified “former national official of a major political party,” and an unidentified partner at a prominent national law firm, the complaint says.

[FarCenter]

16. Henry K was reportedly a client -- hopefully he has lost all his ill-gotten gains

[Still Blue in PDX]

17. Dang, had me going there for a minute. nt