Financial adviser to the stars pleads not guilty in NY court to alleged $59 million fraud
NEW YORK – NEW YORK (AP) — A jailed financial adviser to the stars has pleaded not guilty to alleged securities fraud worth $59 million.
Kenneth Starr is a onetime adviser to celebrities including Wesley Snipes, Sylvester Stallone and Martin Scorsese, though there's no indication they were victims.
He entered the plea Friday in federal court in Manhattan.
The 66-year Starr was arrested last month and ordered held without bail. Prosecutors alleged he cheated elderly victims out of $30 million. An indictment unsealed Thursday raised the total to $59 million.
Prosecutors say Starr stole money in a Ponzi-like scheme from January 2008 through April after gaining the trust of wealthy and influential clients.
He is unrelated to the former White House investigator of the same name.