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Disgraced celebrity money manager charged in new scheme

Disgraced celebrity money manager charged in new scheme
Dana Giacchetto, shown after a court appearance in 2000, is accused in a new fraud case more than a decade after he went to prison for stealing from a star-studded roster of clients. (Robert Mecea / Associated Press)

A former money manager to the stars who went to prison in 2001 for stealing from his clients has been charged in a new fraud case.

Prosecutors in New York say Dana Giacchetto used someone else's credit card to make more than $10,000 worth of unauthorized purchases.

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Giacchetto was sentenced to 57 months in federal in prison in 2001 for stealing nearly $10 million from a star-studded roster of clients that included Leonardo DiCaprio, Matt Damon, Ben Affleck and Cameron Diaz. He used the stolen money to live a lavish lifestyle, which included $120,000 in hotel bills, among that $80,000 during a trip to Los Angeles for 10 suites at the Chateau Marmont in West Hollywood.

Giacchetto now manages a gourmet food company in New York called Taste. He is accused of using another man's credit card to pay for food, liquor, travel, moving and dentistry.

Giacchetto appeared in federal court in New York on Thursday and was released on a $150,000 bond. Outside the courtroom, his defense attorney denied the charges.

"This is not true," said defense lawyer Ronald Fischetti. "He denies all the charges."

In 2007, Giacchetto surrendered his share of a book deal and rights to his story to a bankruptcy trustee to satisfy about $3 million owed to former clients and others.

In a settlement filed in U.S. Bankruptcy Court, Giacchetto relinquished film rights to the book, "You Will Make Money in Your Sleep: The Story of Dana Giacchetto, Financial Advisor to the Stars."

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