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Toledo Strip Clubs: WTOL.com – Toledo’s News Leader | NY judge sets $10M bail for money adviser to …
July 28, 2010 | | Leave a Comment
But the judge wasn’t convinced, and said the houses were needed as well to secure a $10 million bond.
“Either they really believe in the guy or they don’t,” Scheindlin said of the brothers.
Court papers say that Starr diverted investors’ money into risky investments – or into his own pockets – without their knowledge. In one instance, he funneled $5.75 million from the account of a 100-year-old heiress to buy a luxury five-bedroom apartment for $7.5 million without her knowledge, according to court filings.
Prosecutors allege that when clients demanded funds he didn’t have, he would use money from other investors to pay them.
One of several bank accounts linked to Starr, who’s wife is a former stripper, is held under the name “Poledance Superstar,” an indictment says. The government is seeking forfeiture of that account and several others.
See the full article from “WTOL.com”