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U.S. markets recover from steep losses
NEW YORK, March 3 (UPI) -- A federal court has sentenced celebrity consultant Kenneth Starr to 90 months in prison for fraud and money laundering, the U.S. Justice Department said.
Starr, a financial consultant for numerous celebrities, pleaded guilty in September to one count of wire fraud, one count of money laundering and one count of fraud by an investment adviser.
"Kenneth Starr pretended he had the Midas touch, but he was in reality peddling fool's gold," said U.S. Attorney Preet Bharara.
Starr who also has a celebrity name is not the attorney who investigated former President Bill Clinton's affair with Monica Lewinsky.
The Justice Department said Starr "stole millions" by making unauthorized money transfers from his clients' accounts. Between 2005 and 2010, Starr managed to steal more than $33 million "in actual or intended losses," the department said.
His sentence "sends a strong message to financial professionals who exploit their positions of trust for their own personal gain that, in the end, it is they who will pay," Bharara said.
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