Sara Jacqueline King, a California lawyer, was sentenced to 21 months in prison after pleading guilty to wire fraud and money laundering. She swindled nearly $9 million from clients, using a lending business to offer loans backed by high-value assets, but diverted the funds to support her gambling addiction and opulent lifestyle. Ordered to pay nearly $8.8 million in restitution, King faced a maximum of 20 years but received a lesser sentence despite the significant betrayal perceived by the victims and the public.
During her scheme, King lost $8.7 million from five investors when she gambled in Las Vegas and blew the rest of the money on her "lavish lifestyle."
The US Attorney's Office in Central California stated that King never initiated or funded any loan, using victims' funds to gamble at casinos.
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