March 24, 2017

Scorsese Still a Good Fella: Not Sued by Ken Starr, Exactly

By Roger Friedman

hollywoodnews.com: Starr is in jail, on ice–so to speak–awaiting anything to happen on his $59 million fraud indictment.

Meanwhile, a receiver has been appointed by the court to go figure out what happened to all the money and to straighten out the accounting of Starr’s investment company.

In all Ponzi cases this happens, and it’s not pretty. The receiver has to go find where money went from one account to another. Even if a client received money that wasn’t theirs for example and it didn’t know it, they have to give it back.

In the 2001 case of Dana Giacchetto, the money manager to Leonardo DiCaprio and Mike Ovitz, this is what happened. It was a mess. The Giacchetto case was very similar to this one, except the total amount only came to $14 million. It seemed like a lot back then.

In today’s case, receiver Aurora Cassirer is a heavy duty lawyer whose job it is to unravel these mysteries. The Scorsese matter–she says his film company should pay back $600,000–won’t be the last. And it’s not a slam dunk either. Scorsese may argue that he lost money with Starr, or found his accounting to be snarled up.

Cassirer will be making more of these moves, believe me. It’s her fiduciary responsibility.

Award News, Breaking News, Entertainment News, Movie News, Music News, Hollywood News

To read more go to showbiz411.com

About Roger Friedman

Roger Friedman began his Showbiz411.com column in April after 10 years with Fox News where he helped create Foxnews.com. Friedman’s prior experience on the Internet is with MSN’s Cinemania column. Friedman also wrote the Intelligencer column as a contributing editor at "New York Magazine," where he covered the O.J. Simpson criminal trial. In addition, Friedman has been involved in book publishing and filmmaking (Only the Strong Survive). For more about Roger go to Showbiz411.com

Follow us

Breaking Hollywood News   


UPDATES BY EMAIL

Leave a comment

You must be logged in to post a comment.