Preet Bharara, U.S. attorney for the Southern District of New York, said Starr was charged with three counts of wire fraud, fraud through his investment advising and money laundering.
Starr has reportedly been adviser to some of the most recognized names in show business and elsewhere, including Goldie Hawn, Candice Bergen, Uma Thurman and directors Martin Scorsese and Ron Howard.
The Hollywood Reporter said Thursday that former Secretary of State Henry Kissinger and Caroline Kennedy are also Starr clients.
Prosecutors filed a 37-page complaint that says an actress, who is not named, became concerned when $1 million was wired to another account without her prior knowledge of the transaction.
Bharara said, "The investigation is still in the early stages, but it is moving with great speed."
Starr's 23 bank accounts have been frozen, prosecutors said.