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Former Leibovitz Financial Advisor Starr Arrested for Embezzling Income


Kenneth Starr, a former financial advisor for photographer Annie Leibovitz and other celebrities, has been arrested for embezzling $30 million of his clients’ money.

Starr, who was placed in charge of Leibovitz’s financial assets and income, is accused of diverting money to pay for personal expenses, such as a $32,000 wedding band and a condominium worth $7.5 million. 

Starr has been charged with wire fraud, fraud by an investment advisor, money laundering, making false statements to the IRS and lying to federal agents.

Leibovitz issued a statement in May stating that she was not surprised by Starr’s arrest. Starr had managed a failed $24 million loan between Leibovitz and Art Capital Group (ACG) in 2008. In 2009, ACG brought Leibovitz to court when she failed to repay her loan on time.

If Starr is convicted, Leibovitz could be awarded considerable restitution. Those funds could be used to help pay off her now-$40 million loan, which currently resides with Colony Capital.