Isn't it ironic that the man Alanis Morissette entrusted to handle her business affairs has now admitted to robbing the singer blind?
Morissette's business manager has agreed to plead guilty in a $6.5 million embezzlement case, the U.S. Department of Justice said Wednesday.
According to the DoJ, Jonathan Todd Schwartz agreed to plead guilty to wire fraud and subscribing to a false tax return.
According to the Justice Department, Schwartz admitted to withdrawing approximately $4.8 million belonging to Morissette without the singer's knowledge or authorization, falsely labeling the withdrawals as "sundry/business expenses" on accounting records. When confronted about the missing cash, Schwartz lied and claimed hat the money was an investment in illegal marijuana "grow" businesses.
Schwartz also admitted to embezzling more than $1 million from another client, and another $737,000 from a third client.
"Mr. Schwartz was hired to protect his clients' money by managing it professionally, but instead misappropriated millions to enrich himself," said Deirdre Fike, the Assistant Director in Charge of the FBI's Los Angeles Field Office. "This case should serve as a warning that there are serious consequences for those who abuse their positions of trust to embezzle funds."
Schwartz faces a maximum of 23 years in prison once he pleads guilty, though the plea deal is suggesting a sentence in the four- to six-year range. A judge will ultimately determine his actual sentence.
Pamela Chelin contributed to this report.
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