Money manager Kenneth I. Starr seeks court permission to post $2 million bail and live at his Manhattan apartment while awaiting trial on charges he defrauded his celebrity and socialite clients of at least $59 million.
Starr, 66, would be in the custody of his wife, Diane Passage, and would wear an electronic monitoring ankle bracelet, according to a request filed in federal court in New York by his lawyer, Flora Edwards. Starr would be under curfew from 6 p.m. to 8 a.m., according to yesterday’s filing.
In detention, Starr hasn’t been able to help in his defense because he “lacks access to the multitude of files and records as well as the technology necessary to work effectively,” Edwards said in the filing. The $2 million will be secured in collateral pledged by Starr’s brothers, Warren Starr and Stuart Starr, according to the filing.
Starr is charged with 20 counts of wire fraud and one each of securities fraud, money laundering and fraud by an investment adviser. Starr was arrested May 27 and accused of defrauding clients, including heiress Rachel “Bunny” Mellon, in a scheme to buy a $7.5 million Manhattan apartment. He has denied the charges.
U.S. prosecutors objected to Starr’s bail request.
The U.S. Attorney’s Office in Manhattan argued Starr presents an “extraordinary risk of flight” because he faces as long as 445 years in prison, his ties to the community have been eroded, and his family “continues to be willing to make millions of dollars of assets available to him,” according to the government’s filing.
The case is U.S. v. Starr, 1:10-cr-00520, U.S. District Court, Southern District of New York (Manhattan).