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Thursday, December 30, 2010

Ponzi scammer Kenneth Starr denied in bid to lower 10M bail

A Manhattan judge refused Ponzi swindler Kenneth Starr's request on Tuesday to lower his $10 million bail while awaiting final sentencing.

At the same time, Federal District Judge Shira Scheindlin put the kibosh on the U.S. attorney's request to revoke bail altogether.

Starr has become estranged from family members who would put up their homes for the disgraced financial consultant to the rich and famous - and could flee if they do, prosecutors argued.

Starr pleaded guilty in September to a Ponzi scheme the government says scammed $60 million from his clients, including Hollywood A-listers Uma Thurman and Martin Scorsese.

He faces up to 12 years in prison when Scheindlin sentences him in February.

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