Sara Jacqueline King, who blew $8M of client’s money in Vegas, to plead guilty

A California lawyer who swindled clients out of more than $8 million and blew the funds on Las Vegas gambling sprees has agreed to plead guilty to wire fraud and money laundering charges.

Federal officials said Sara Jacqueline King, 39, used her company, King Family Lending LLC in Newport Beach, to recruit investors to fund business loans from January 2022 until January 2023.

However, officials said she duped her clients and used her victims’ funds to gamble at Las Vegas casinos and support her lavish lifestyle.

King could face a maximum sentence of 20 years in federal prison when she is sentenced. She also has agreed to pay a total of $8,785,045 to five investors.

King also admitted to withdrawing $132,156 from her company’s bank account to purchase a Porsche Taycan electric sports car.

In February, a British Virgin Island-based company called LDR International Limited filed a civil suit against King and her company for fraud, civil theft and breach of written contract.

The suit claims LDR International made 97 different loans worth about $10.3 million to King’s lending company.

“King spent the majority of the funds loaned by Plaintiff to King Lending to gamble in Las Vegas, fund an extravagant lifestyle, and for other personal uses by King,” wrote attorneys representing LDR International in a 33-page petition.

“Plaintiff is informed and believes that King moved into the Wynn Las Vegas resort and hotel, lived there for six months, and gambled 24/7.”

The civil suit included pictures of King in a luxury car with her dog and posing with NFL stars Aaron Rodgers, Tom Brady and Patrick Mahomes.

A California trauma surgeon named “Amal” spoke to the Daily Mail and said the attorney swindled her and her husband out of their entire life savings — a total of $410,000.

Amal said she was impressed when King told her she made at least $3 million annually and boasted her roster of celebrity contacts.

The surgeon said King made good on a smaller loan, which prompted them to invest more.

“She said that she had wired us $100,000 back of the money she owed us, and send us a fake screenshot,” Amal said. “She would then say she would sent a cashiers check, which we waited like idiots for. She even said she was on her way to my house with the cash but she just never showed.

“We were really starting to panic, and she just kept telling us all of these lies. It was just out of this world how easy it was for her to lie and manipulate us.”

King is scheduled to appear in Santa Ana federal court for an initial appearance on June 20.