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Star Broker Kenneth Starr Had a History of Fraud Accusations
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(June 7, 2010 - Monday) - Kenneth Starr, former broker to the stars, was found hiding in closet when police arrested him two weeks ago. Starr is accused of orchestrating and running a $30 million Ponzi Scheme in which he used investor money to furnish his lavish lifestyle.
According to a New York Times story this is not the first time that Starr has been accused of fraud. In 2002 Starr was named in a lawsuit filed by Sylvester Stallone which accused Starr of mismanaging an investment for now nearly defunct Planet Hollywood.
Starr was also accused of fraud by former actress Joan A. Stanton, and was fired by Lauren Bacall, Diane Sawyer, and the widow of legendary actor Humphrey Bogart.
Starr had made a fine life taking advantage of celebrities and using their money to fund his lavish lifestyle, but Starr will now most likely be trading the $7.5 million Upper East Side condo, for an extended stint in 6 x 8 jail cell.
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