Tags: alanis morissette | sues | business manager

Alanis Morissette Sues Business Manager to Stars for Missing $4.8M

Image: Alanis Morissette Sues Business Manager to Stars for Missing $4.8M
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By    |   Wednesday, 18 May 2016 11:05 AM

Singer Alanis Morissette is suing former business manager Jonathan Schwartz for allegedly misappropriating $4.8 million of her money. Schwartz's clients also reportedly included Beyoncé and Mariah Carey.

The "Jagged Little Pill" singer's lawsuit claims damages in excess of $15 million, accusing Jonathan Schwartz of making more than 100 cash withdrawals worth $4.8 million over four years and allowing the transfer of $8 million out of her investment accounts despite assurances that her savings "would never be touched," The Wall Street Journal reported.

The suit also names Schwartz's firm, GSO Business Management, claiming the firm “lacked proper internal controls,” the Journal said.

GSO filed a separate lawsuit against Schwartz, seeking his expulsion from the firm along with unspecified damages and repayment of a $588,000 advance, the Journal reported.

Schwartz managed Morissette's finances between 2009 and 2016 and was fired in March, the BBC reported. Her new business manager discovered the withdrawals.

"When I fired Jonathan Schwartz and GSO two months ago, I had no idea the extent of the misconduct," Morissette said in a statement.

The suit alleges breach of duty, fraud and negligence. According to legal papers, Schwartz changed his explanation for the withdrawals, saying they were made to invest in a marijuana-growing business for the singer and because she spends a lot of cash, the BBC reported. Morissette denied those claims.

GSO disputed some of Morisette's claims, saying the singer sometimes requested large sums of cash and the firm told her that she was over budget, BBC reported. Still, the company said in its lawsuit that it was "shocked" by Schwartz's actions, saying an internal investigation "revealed that Mr Schwartz was burning through money to sustain a lavish lifestyle, including a $50,000 vacation to Bora Bora and an outstanding gambling debt of $75,000 at a casino in the Bahamas. He also owes the U.S. government a substantial sum for unpaid taxes."

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Singer Alanis Morissette is suing former business manager Jonathan Schwartz for allegedly misappropriating $4.8 million of her money. Schwartz's clients also reportedly included Beyoncé and Mariah Carey.
alanis morissette, sues, business manager
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2016-05-18
Wednesday, 18 May 2016 11:05 AM
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