Alanis Morissette's manager admits to stealing $4.8 million from the singer
Alanis Morissette’s former manager Jonathan Schwartz admitted to stealing $4.8 million from the singer (and $2 million from other clients) in a Los Angeles court on Wednesday, January 18, the BBC reports.
According to The Hollywood Reporter, Schwartz — who worked for the “You Oughta Know” songstress, 42, from 2009 until 2016 — was responsible for "collecting income, managing investment accounts and paying bills on her behalf."
Morissette sued Schwartz for fraud in May 2016 and asked for $15 million in damages. The Canadian-born musician claimed that Schwartz and the company he worked for "concealed distributions from Morissette, convincing her that she was in tremendous financial shape when, in fact, they were draining her assets and leading her on a road that could have led to financial ruin."
Rolling Stone reports that when Morissette’s new manager, Howard Grossman, reviewed her finances last year, he discovered more than a hundred transfers from the eight-time Grammy winner’s account to Schwartz’s.
According to her suit, Morissette — who has sold more than 60 million albums worldwide during her decades-long career and is worth an estimated $45 million — claimed that “[Schwartz] would insist that things were 'fine,' that she had 'nothing to worry about,' and that she and her future grandkids were ‘set for life,’” when she’d ask if she was over budget.
"His reasoning was always that she didn't need to work so hard, because she was so financially secure,” the complaint read.
Morissette’s suit also alleges that Schwartz’s unauthorized financial distributions were used as investments in "one or more illegal marijuana 'grow' businesses." The BBC reports that Schwartz will appear in court on February 1 to face criminal charges, which could result in four to six years in prison.
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