As a result of the lawsuit Alanis Morissette filed last year against her business managers, GSO Business Management and Jonathan Schwartz, Schwartz is facing a few years in prison. Schwartz admitted to embezzling nearly $5 million from Alanis over roughly a four year period. Additionally, Schwartz embezzled another $2 million from other clients. Maybe Alanis should’ve kept both hands in her pockets.

Last May, after Alanis filed her civil lawsuit, GSO Business Management quickly, and quietly, settled that case. While the exact details of the settlement are confidential, one would anticipate that the business management company made Alanis whole by paying back the stolen monies on Schwartz’s behalf, whom they sued the day before Alanis filed her suit.

Embezzlement is a form of theft. It can range in severity. A cashier that takes $20 from the till, and an accountant who hides $2 million from a business, are both committing embezzlement. It basically happens when someone who is lawfully allowed to access or possess another person’s property takes the property and converts it to their own use. The distinction from normal theft is having lawful access at the outset.

Embezzlement is something small business owners need to be keenly aware of, as small businesses are most frequently targeted. Entertainers, performers, artists, and athletes that hire business managers need to treat their public personalities like small businesses, and realize that those who have access to financial accounts need to be monitored for impropriety.

Related Resources:

  • Alanis Morissette Sued by Ex-Nanny Over Wages, Breaks (FindLaw’s Celebrity Justice)
  • 17 Arrested in Kardashian Robbery Roundup (FindLaw’s Celebrity Justice)
  • Sherri Shepherd Serious About Not Paying Child Support (FindLaw’s Celebrity Justice)
  • Directors Guild Sued Over Health Plan Denying Naturopathic Care (FindLaw’s Celebrity Justice)

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