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The manager of rocker Alanis Morissette, a Mr. Schwartz, admitted that between May 2010 and January 2014 he withdrew about $4.8 million from Morissette’s account without her knowledge. He also admitted that he labeled the unauthorized cash withdrawals as “sundry/personal expenses” and embezzled more than $1.7 million from one other unidentified celebrity and a sports figure.

 

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According to Deirdre Fike, the assistant director in charge of the FBI office in Los Angeles:

Mr Schwartz was hired to protect his clients’ money by managing it professionally, but instead misappropriated millions to enrich himself,

Morissette, who filed a lawsuit against Schwartz in May, said her former manager had cost her $15 million overall both through theft and other malfeasance.

 

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She said she fired Schwartz in March after he failed to clearly explain her finances.

According to GSO Business Management, which employed Schwartz and has also filed a lawsuit against him, he maintained a lavish lifestyle that included a $50,000 vacation to the Pacific Island of Bora Bora and a $75,000 debt from a casino.

 

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Schwartz on February 1 is expected to formally enter his guilty plea to two felony charges of wire fraud and filing a false tax return which makes him technically facing up 23 years in prison.

The plea deal states that a sentence of four to six years in prison will be considered by the judge.

 

Written by Clement Oluwasegun

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