A disbarred attorney from California, who lavishly spent $8.7 million of her clients' money in Las Vegas, was sentenced on Monday to 21 months in federal prison.
Sara Jacqueline King, 49, referred to herself as the “slots whisperer” and asserted that she possessed an “unbeatable strategy” for high-stakes slots – a game based entirely on chance where the sole strategy consists of recalling to press a button.
According to court documents, King financed a six-month gambling binge in 2023 using investors' money from her company, King Family Lending LLC (KFL), while staying in a VIP suite at the Wynn Las Vegas and mainly surviving on cocktails and Xanax.
The King’s suite at the Wynn was exclusively offered to VIP patrons willing to wager over $300K daily. It was at this moment that her husband, a great-nephew of the last Shah of Iran, chose to leave her upon realizing he was “married to the woman equivalent of Bernie Madoff.”
In November 2023, King was removed from the Wynn after management discovered she was reportedly attempting to defraud other guests and employees.
King Family Lending allegedly offered short-term, high-interest loans to celebrities, athletes, and other affluent individuals. These were backed by the borrower's own possessions, including jewelry, luxury vehicles, and other valuable items.
Five victims put $8.7 million into the fraud. During the period of these investments, from January 2022 to January 2023, prosecutors stated that King did not release any loans.
In February 2023, LDR International, an investor in KFL, filed a lawsuit against King, claiming she had misused a $10,258,500 investment intended for third-party borrowers. LDR also forwarded the case to the FBI, which initiated the federal investigation.
On July 24, 2023, King admitted guilt to wire fraud and laundering money. On Monday, US District Judge David O. Carter mandated that she pay $8,785,045 in restitution to her victims alongside her prison term.
King's lawyer, Sam Cross, requested the judge to impose a sentence of home confinement or six months of incarceration. He claimed his client was battling an addiction, trapped in a “vicious cycle,” and had “lost everything,” including her family and her career as a lawyer.
Assistant U.S. Attorney Jennifer Waier argued that the sum of money at stake and King's status as an attorney justified a more severe penalty.
Waier observed that King seemed to bask in her infamy when she guest starred in an episode of “The Binge Crime Podcast” in October 2024, calling herself “Lady Mafia” and asserting she could “sell fire to the Devil.”
In a letter to the court, a deceived investor, a friend of her former spouse, claimed that she was using her legal knowledge to “ruin the lives of those who believed in her,” as reported by The Orange County Register.
“It was an elaborate, sustained scheme built on lie after lie,’ the investor claimed. ‘What she did took planning, effort, and cold disregard for the damage it would cause.”
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