Sara Jacqueline King, a 41-year-old attorney from Newport Beach, California, was sentenced to 21 months in federal prison for embezzling approximately $8.7 million from her clients. The sentencing took place on May 5 after she pleaded guilty to charges of wire fraud and money laundering. In addition to her prison term, King has been ordered to pay restitution totaling nearly $8.8 million.
Between January 2022 and January 2023, King operated under her business, King Family Lending LLC, which purportedly provided short-term loans secured by the assets of high-profile borrowers, including celebrities and professional athletes. However, the U.S. Attorney’s Office revealed that she never funded or initiated any loans. Instead, she misappropriated her clients’ funds to finance her lavish lifestyle and gambling activities in Las Vegas.
In a civil lawsuit filed by LDR International Limited of the British Virgin Islands, King is accused of taking out 97 loans worth $10.2 million from the company between January and October 2022. The lawsuit claims that she used a significant portion of the loan amounts to support her gambling habit and extravagant spending. Reports indicate that she lived at the Wynn Las Vegas resort for six months, gambling extensively during her stay.
Court filings reveal that King attributed her gambling to pressure from her ex-husband, Kamran Abbas-Vahid, who allegedly encouraged her to utilize the loans to pay off debts to LDR International. Despite this defense, it is evident that she diverted a substantial amount—between $6 million and $7 million—into gambling at the Wynn, alongside significant personal expenditures.
Furthermore, King admitted to using $132,156 of investor funds to purchase a Porsche Taycan electric sports car. Her attorney, Sam Cross, noted that she struggled with a Xanax addiction and reported that she consumed an excessive amount of alcohol daily while gambling in Las Vegas. King has since entered a rehabilitation facility in an attempt to address her substance use issues.
King’s prison sentence will begin on July 14, and she will face three years of supervised release following her incarceration. Former client Yumiko Sturdivant expressed outrage over King’s actions, stating that she had harmed not only wealthy individuals but also ordinary people who trusted her.
The case serves as a stark reminder of the potential consequences when professional integrity is compromised, highlighting the impact on both clients and the legal community.
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