An attorney from Newport Beach, California, has been sentenced to 21 months in prison after scamming $8.7m from investors and using the money to fund a lavish lifestyle. Sara King stayed at a casino resort in Las Vegas for six months and gambled away millions of dollars during the height of her fraud.
pleaded guilty to money laundering and wire fraud last year
The crimes eventually caught up with the now 41-year-old and she pleaded guilty to money laundering and wire fraud last year. After a request for leniency from the defendant’s legal counsel, US District Judge David Carter denied the plea for a shorter sentence because of the amount of money involved.
The scam occurred between January 2022 and January 2023, with King telling investors that their money would earn interest by lending it out at high interest rates on short-term durations to high-net-worth individuals. The loans were not real, and she used their funds to gamble away up to $7m and buy luxury goods.
