Candian superstar Alanis Morissette was robbed of millions of dollars by her former manager, a court heard. Jonathan Todd Schwartz, who handled the singer's finances from 2009 to 2016, admitting funding his lavish lifestyle with the $7 million (£5.3m) he embezzled from the singer and other high-profile stars.
On Wednesday (18 January) former GSO Business Management boss Schwartz pleaded guilty to charges of wire fraud and filing a false tax return as part of a plea deal. He initially lied about the theft when first confronted, claiming instead that he had invested the money in an illegal marijuana business.
In court documents, The iconic hitmaker asserted that Schwartz transferred money to his own accounts without permission.
"Defendants concealed these 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," the civil complaint read.
"There were no documents explaining the nature of these transfers. Morissette was completely unaware of these cash transfers and had not authorised them."
Schwartz' wrongdoing first made headlines in 2016 when Morissette sued Schwartz and GSO for $15m after her new business manager found discrepancies in transfers to Schwartz from her accounts. GSO later launched an internal investigation and the company was shocked to discover further evidence of the fraud. A lawsuit was eventually settled out-of-court called for an undisclosed amount.
Schwartz's lawyer, Nathan Hochman, said his client had co-operated fully with the investigation and had accepted responsibility.
Schwartz will appear in court on 1 February. He faces up to 23 years in federal prison.
The names of the five other clients Schwartz admits stealing $2.3m from, have yet to be disclosed.