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Thursday 25 May 2017

Morissette manager admits stealing €7m

Singer Alanis Morissette
Singer Alanis Morissette

The former business manager for Alanis Morissette has admitted embezzling millions of pounds from the singer and other celebrities.

Jonathan Schwartz (48), of Los Angeles, agreed to plead guilty to federal charges, prosecutors said.

He was charged with wire fraud and filing a false tax return for failing to report the embezzled funds.

Schwartz admitted stealing nearly $5m (€4.7m) from Morissette between May 2010 and January 2014.

Marijuana

He used the money personally and falsely listed the cash withdrawals as "sundry/personal expenses" to cover up the crime.

When confronted about the theft, Schwartz lied and said he invested the money in an illegal marijuana growing business, prosecutors said.

Schwartz also admitted to stealing $2.3m (€2.2m) from five other clients who were not named in documents.

Defence lawyer Nathan Hochman said Schwartz had fully co-operated with investigators and accepted responsibility.

His plea deal calls for a sentence of between four and six years in prison, though a judge could sentence him up to 23 years on the charges.

Schwartz had offered financial guidance to some of the biggest stars while working at GSO Business Management, a firm that touts its relationship on its website with entertainers such as Katy Perry, 50 Cent and Tom Petty.

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