It does not appear that Alanis Morrissette’s former accountant will get a free ride from federal prosecutors.
Jonathan Schwartz, who helped managed the singer’s money when he worked at GSO Business Management in Sherman Oaks, entered a plea agreement Wednesday, copping to fraud and tax evasion in relation to his theft of more than $6.5 million in client funds.
The 48-year old embezzled the bulk of the money - some $4.8 million - from Morissette between 2010 and 2014, labeling the withdrawals as “sundry/personal expenses,” according to federal prosecutors. The accountant was later confronted about the missing money and claimed it was part of an investment into an illegal marijuana cultivation operation, but when pressed admitted that was false.
Schwartz also embezzled money from two other clients, according to the U.S. Attorney’s Office in Los Angeles. His plea deal puts his recommended sentence at four to six years, but a federal judge will ultimately have discretion at sentencing. Schwartz’s initial appearance is scheduled for Feb. 1.
Deals & Dealmakers reporter Henry Meier can be reached at firstname.lastname@example.org. Follow him on Twitter @henry_meier.
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