Peter Strain of Studio City, Calif., pleaded guilty Wednesday in federal court in Manhattan to interstate transportation of stolen property. Prosecutors say he repeatedly lied to three actors in television shows about payments for their acting so he could use the money himself.
The government said Strain siphoned money owed to clients between 2011 and 2013. Strain faces up to 10 years in prison at an April 30 sentencing.
Prosecutors say he used clients' money to buy more than $161,000 in jewelry, $310,000 in artwork and $57,000 in luxury goods. A defense lawyer didn't immediately respond to a message for comment.