Kenneth Starr jailed for 7 1/2 years in fraud case

Last Updated: Mar 03, 2011, 16:33 PM IST

New York: Kenneth Starr, a former financial adviser to the stars, has been jailed for more than seven years for a multimillion-dollar investment scheme.

He was sentenced in federal court to serve seven years and six months in prison, reports the New York Post.

Starr had pleaded guilty to cheating nine wealthy and elderly clients out of more than 30 million dollars. He admitted secretly diverting their money into risky investments or his own pockets.

Prosecutors say Starr used some of the money to bankroll a Manhattan condo and a lavish lifestyle.

Defense lawyers had argued their 67-year-old client deserved leniency. They called the scheme an isolated mistake made after a lifetime of honesty and helping others.