Courts

Lawyer Who Gambled Away Millions In Client Funds Pleading Guilty... Guess She Didn't Like Her Odds

Know when to fold 'em... preferably before having to plead to wire fraud and money laundering.

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gambling gaming dice craps Las Vegas NevadaAccused of blowing somewhere over $8 million in client funds after moving into the Wynn casino and gambling “24/7” (according to a related civil complaint), attorney Sara Jacqueline King will reportedly plead guilty to wire fraud and money laundering. She faces upwards of 20 years and has already agreed to pay $8,785,045 to recoup five investors.

At one point, King’s lending business was rumored to have transformed millions in investments into a mere $12. Apparently she’s found some more if she’s taking on restitution obligations.

This matter began when a Virgin Islands entity called LDR sued King alleging:

“Plaintiff is informed and believes that King moved into the Wynn Las Vegas resort and hotel, lived there for six months, and gambled 24/7,” LDR said in its complaint.

LDR alleged King owed them over $10 million in principal that she squandered. Other suits alleged similar if smaller debts, one alleging she failed to repay a $125,000 loan, and another claiming that she pocketed a $62,000 loan.

Apparently, not a fan of the penny slots.

The feds joined the party a little later. King will make an initial appearance later this week and is expected to plead guilty.

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Lawyer Sara Jacqueline King, who blew $8M of clients’ money in Vegas, will plead guilty [NY Post]

Earlier: Lawyer Accused Of $10 Million Scam That She Allegedly Spent Gambling In Vegas

HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

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