Sign in to comment!

Menu
Home

Crime & Courts

NY judge: Financial adviser to stars can be freed on bail in fraud case with brothers' help

A New York judge says a jailed financial adviser to the stars can get out on bail if his two brothers change their minds and put up their houses as collateral.

A lawyer for Kenneth Starr told U.S. District Judge Shira Scheindlin on Tuesday that the only collateral lined up so far is one brother's $1.7 million rare book collection. But the judge said the houses were needed as well to secure a $10 million bond.

The 66-year-old Starr was arrested in May in an alleged securities fraud worth $59 million. Prosecutors allege he ran a Ponzi-like scheme from January 2008 through April after gaining the trust of wealthy and influential clients.

Starr is a one-time adviser to celebrities including Wesley Snipes, Sylvester Stallone and Martin Scorsese, though there's no indication they were victims.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.07% -- 4.07%  
15 Y Fixed Graph 3.13% up 3.09%  
30 Y Fixed Jumbo Graph 4.19% up 4.14%  
5/1 ARM Graph 3.22% up 3.08%  
5/1 Jumbo ARM Graph 3.50% up 3.49%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.32% -- 4.32%  
$50K HELOC Graph 3.99% -- 3.99%  
$30K Loan Graph 5.00% up 4.99%  
$50K Loan Graph 4.36% -- 4.36%  
$75K Loan Graph 4.36% -- 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.83% dw 2.85%  
36 M Used Graph 3.36% dw 3.38%  
48 M New Graph 3.15% dw 3.16%  
48 M Used Graph 3.00% -- 3.00%  
60 M New Graph 3.17% dw 3.18%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% up 0.38%  
1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.50% -- 1.50%