Back in the summer of 2023, a California attorney — who was accused of blowing somewhere over $8 million in client funds after moving into the Wynn casino and gambling “24/7” — opted to plead guilty to wire fraud and money laundering. Last week, her sentence was handed down, and because the house always wins, she will be spending some time behind bars.
Sara King, 41, formerly of King Family Lending, had been facing more than 20 years behind bars, and had already agreed to pay $8,785,045 in restitution prior to her sentencing. So, how did the court roll the dice on this one? Lady Luck must have been on King’s side. People has the details:
King was sentenced to 21 months in federal prison after pleading guilty to wire fraud and money laundering charges….
The Newport Beach attorney, 41, recruited investors under her business name, King Family Lending LLC, to facilitate “short-term loans to celebrities, professional athletes and other high-net-worth individuals secured by the borrower’s own assets” in a fraud scheme between January 2022 and January 2023….
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According to Sam Cross, King’s attorney, his client suffered from a Xanax addiction and was drinking heavily while she was gambling client funds in Las Vegas. She has since committed herself to a rehabilitation facility.
King will report to prison on July 14, and must complete three years of supervised release upon leaving the Big House.
Earlier: Lawyer Who Gambled Away Millions In Client Funds Pleading Guilty… Guess She Didn’t Like Her Odds
Lawyer Accused Of $10 Million Scam That She Allegedly Spent Gambling In Vegas
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.