Kenneth I. Starr, a NY investment advisor, is being arrested for creating a massive Ponzi like scheme. He is being charged with money laundering and fraud by rerouting $30 million of celebrity’s money to support his rich lifestyle. Stars like Ron Howard, Sylvester Stallone, Wesley Snipes, and Uma Thurman have been affected.

Mr. Starr is being accused of recruiting clients by saying his company is aspiring and exclusive. He would get the stars to trust him with their financial affairs – to control and manage them. Starr is not related to the person who investigated President Clinton during the impeachment proceedings. Andrew Stein, an ex NY council president was also implicated in the scam.

The charges are lying to the federal government and authorities. Stein states that he was unaware of the fraud Starr was causing even though a company that was started by him lent money in the amount of $1.6 million for luxury expenses. Stein is also being accused of sending star clients to his company. It is still not known which stars are being affected by this scam. Their legitimate funds could be at great risk. Starr is still being held in jail with no bail. Stein was released on $250,000 bond.

Image Credit: