A prominent stockbroker, who stole over $7 million, including large amounts from Nelly, recently pleaded guilty to fraud charges.

Minnesota Timberwolves guard Latrell Sprewell was also among the broker's victims. The theft could land Calvin Darden, 31, the son of a multi-millionaire businessman, in prison for up to 12 years when he is sentenced on November 10th. Under the deal with Manhattan prosecutors, Darden will pay $5.7 million in restitution. According to authorities, Darden stole $4 million from his former employers and over $3 million from eight investors.

Darden earned a job at three leading Wall Street firms by bragging about a client list that featured Nelly, Miami Heat center Shaquille O'Neal, actress Angela Bassett and actor Samuel L. Jackson.

According to his lawyer, Ben Brafman, the firms, AIC, Wachovia and Smith Barney, considered him "a new rising star in the African-American investment community." Brafman said that the firms never verified Darden's claims and landed him millions as sign-on bonuses with the promise to cancel the loan if he fared well.

Meanwhile, Darden spent the money on a luxurious lifestyle, buying a multimillion-dollar home in Glen Cove, Long Island. The crib features a 5,000-gallon fish tank. He also spent bundles on expensive meals at Manhattan's Four Seasons and Beverly Hills' L'Ermitage. He fooled investors, stealing $950,000 from Nelly and $300,000 from Sprewell to spend at will.

According to Brafman, Darden will have to sell his home to help pay the $5.7 in restitution. Out of the bill, $4 million will go to his former employers and the rest will go to the eight investors he stole from.

Darden is the son of Calvin Darden Sr., who was named one of the most powerful black executives in the U.S. by Fortune Magazine. Darden Sr. is a retired senior vice president of UPS and a director for Coca-Cola and Target.

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