The New York Adviser, Kenneth I. Starr, who at once had celebrity stars such as Martin Scorsese, Al Pacino and Sylvester Stallone as his clients, pled culpable before Federal District Court in Manhattan to the charges of being involved in goof of diverting millions of Dollars of his clients so as to pay for the luxurious lifestyle that he maintained.
Mr. Starr, 66, wearing a dark blue prison smock, made his appearance before the court, saddened, and stooping, confessed before Federal Magistrate Judge Theodore H. Katz, that he did launder million of Dollars to satisfy his temptations of living a lavish lifestyle.
He confessed that he stole around $20 million to $50 million from the accounts of his clients, which he would use for his own expenses.
A plea accord between Mr. Starr and the Government demands for a sentence serving of 10-12.5 years.
However, Judge, Shira A. Scheindlin, who is lined up to offer verdict on Mr. Starr on Dec. 15, is not bound by the agreement and may possibly inflict a good or low level penalty upon him.
The Government informed that a penalty worth $50 million in assets owned could be inflicted upon the accused as recompense for the victims.