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Finance guru Starr facing fraud charge.

Daily Variety

| May 28, 2010 | Cox, Gordon; Garrett, Diane | COPYRIGHT 2009 Reed Business Information, Inc. (US). (Hide copyright information)Copyright

Financial adviser Kenneth I. Starr has been accused of bilking big-name clients of more than $30 million, in charges brought Thursday in separate complaints from the U.S. attorneys office and the Securities and Exchange Commission.

Starr's clients are characterized in the SEC complaint as "high net-worth individuals, many of whom are socialites or luminaries in the entertainment and business worlds." None are identified by name.

Between January 2008 and April 2010, Starr allegedly siphoned money from his clients' accounts for his personal use.

The charges touched off a flurry of Gotham media attention reminiscent of the frenzy that surrounded legal actions …

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