Money Manager Starr Pleads Guilty To Fraud Scheme

Law360, New York (September 10, 2010, 4:47 PM EDT) -- Now-infamous money manager Kenneth Ira Starr pled guilty Friday to stealing from his clients and giving misleading investment information, putting him up against a maximum sentence of 45 years in prison along with possible fines and forfeiture topping $50 million.

The 66-year-old Starr spoke clearly and confidently as he entered his plea before Magistrate Judge Theodore H. Katz in the U.S. District Court for the Southern District of New York, saying he wrongfully used clients’ money “for my own purposes.”

Starr further admitted to misrepresenting the...
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