The so-called stockbroker to the stars was charged Thursday with two counts of financial fraud in a Manhattan court. The complaint alleges that Giacchetto "knowingly and with intent to defraud" used someone else's American Express card to rack up more than $10,000 in charges between February and March of 2013.
AmEx alerted the cardholder, who was not identified in the indictment, to a suspicious Priceline charge that turned out to be fraudulent. After reviewing account statements, the victim discovered a host of charges made by Giacchetto for liquor, food, airplane tickets and even dental work.
Giacchetto faces up to 25 years in prison. He has been released on a $150,000 personal recognizance bond.
His attorney, Ron Fischette, told CNBC his client "maintains his innocence and claims not to have defrauded anyone."
In the early 2000s, Giacchetto used his connections to major Hollywood stars including Ben Stiller, Leonardo DiCaprio and Cameron Diaz to embezzle millions and support a lavish lifestyle.