It has been announced that Paul Simon will not have to pay lawyer and money manger Kenneth I. Starr, who victimized the singer in a $60 million Ponzi scheme.
The singer dodged a $17,174.49 tab, plus interest and lawyer’s fees, after court papers indicated that charges were dropped against Simon.
The whole thing started when Starr was arrested and indicted on 23 counts of fraud and money laundering in 2013 after signs that his dealings with celebrity clients may not have been legitimate. Starr was convicted and sentenced to 7 1/2 years in prison but, just before the sentence was passed, he declared bankruptcy, making it impossible for him to pay back any of his clients.
A trustee in charge of his finances uncovered some unpaid bill for services provided to Simon, giving his creditors a chance to recoup their stolen money. But Simon was one of the victims of Starr’s scheme, which included other A-list celebrities such as Uma Thurman, Natalie Portman, Sylvester Stallone, Wesley Snipes and Martin Scorsese.
While the amount of money Starr stole from Simon is undisclosed, it has been reported that Thurman lost $1 million. In addition to ripping off celebrities, he admitted to stealing from nine elderly investors, including a 100-year-old woman.
Starr was disbarred after his confession and claimed he used the money to fuel his luxurious lifestyle, including diamond chandelier earrings and bracelets for his fourth wife, a former stripper. He also owned a $7.5 million, five-bedroom Upper East Side condo with a 32-foot indoor lap pool and a 1,500-square-foot garden.
It is said Starr lured his well-known clients with promises of “sure deals” and big returns on their investments. Instead, he spent the money and invested in risky operations being run by his young wife.
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