NEW YORK (CBSNewYork/AP) — A talent agent for film, television and Broadway actors pleaded guilty in New York Wednesday to stealing more than a half million dollars from clients after spending lavishly on himself.
Peter Strain of Studio City, Calif., pleaded guilty in federal court in Manhattan to interstate transportation of stolen property.
According to prosecutors, Strain repeatedly lied to three actors in television shows about payments for their acting so he could use the money himself.
Strain was accused of siphoning money owed to clients between 2011 and 2013.
Prosecutors said Strain used clients’ money to buy more than $161,000 in jewelry, $310,000 in artwork and $57,000 in luxury goods.
Strain faces up to 10 years in prison when he is sentenced on April 30.
Check Out These Other Stories From CBSNewYork.com:
- CBS2 Exclusive: Woman, 80, Recalls Being Robbed At Gunpoint, Pushed Down In Brooklyn Apartment
- Seen At 11: Grooming The Groom-To-Be – The New Trend For Wedding Season
- Cycling Advocates Say Drivers Are Using Bike Lanes And The Consequences Could Be Deadly
- Pulse Nightclub Owner, Entertainment Manager Appear At NYC LGBT Pride Rally
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)