Alanis Morissette's ex-business manager, who stole more than $7 million from the singer and others was sentenced Wednesday to six years in federal prison.
Morissette made a pitch for a lengthy and severe sentence saying he stole her dreams.
The singer said she had placed the fortune she earned through her fame in the trust of Jonathan Todd Schwartz and he had secretly siphoned her accounts while constantly misleading her about her net worth.
"He did this in a long, systematic, drawn-out and sinister manner," Morissette said, adding it would have bankrupted her within three years had the thefts continued.
Schwartz, 47, who blamed his gambling addiction for the thefts, wept and apologized at the hearing, saying he took full responsibility for his behavior and would have a life of shame because of it.
"I alone am responsible for the devastation," he said, in seeking less than a year in prison. "I will spend the rest of my life asking for forgiveness."
Prosecutors were seeking just over five years in prison for Schwartz, but Judge Dolly Gee said she thought Schwartz deserved more time for the "sheer audaciousness of this conduct."
Gee noted that she has often criticized federal sentencing guidelines as draconian, but noted that they weren't harsh enough in this case. Gee said Schwartz's gambling addiction may explain the wire fraud and tax crimes, but didn't excuse them. She also ordered him to pay $8.6 million in restitution.
Schwartz acknowledged stealing nearly $5 million from Morissette between May 2010 and January 2014 and more than $2 million from five unnamed clients when he worked at GSO Business Management, a firm that touted relationships with entertainers such as Katy Perry, 50 Cent and Tom Petty.
That money is gone.
ReplyDeleteSo sad.
He got caught. There are thousands of agents/managers/accountants/hedge fund guys in the business who are doing the same thing. Over the years many big named singers and actors have been swindled big time by men like him. Ask Al Pacino, Liam Neeson, Kevin Bacon et al. This is sad. She worked so hard for this. I can't imagine her pain.
ReplyDeleteThese are greedy celebs who want all the tax breaks and obscure cayman Is. accounts from a flashy accountant. Pay your taxes and invest in property and one that tracks the s+p 100. No money worries if you stay within your means.
ReplyDeleteCelebs need to educate themselves like everyone else. Understand business and contracts and business dealings. Most of them don't really need a manager if they were intelligent and educated enough to handle their own shit. Something similar also happened to Rhianna. That being said, it sucks that this happened to her. Isn't this happening to Mariah Carey right now?
ReplyDeleteWait...what? No NNN investment suggestions?
ReplyDeleteIsn't it ironic?
ReplyDelete