Celebrities place a great amount of trust in their business managers but sometimes that trust is violated, this time to the tune of millions of dollars from several celebrities and sporting figures, only one of whom has been named in court documents.
Jonathan Todd Schwartz, 48, has admitted to stealing $6.5 million from singer Alanis Morissette, one of his many celebrity clients. Schwartz made the admission for a federal plea agreement he reached over his crimes, according to case information on MoreLaw.
He was found guilty of committing “wire fraud” and filing false tax returns between 2010 and 2014 and it was during that time he stole the money from Morissette.
Schwartz also admitted to stealing an additional $2.25 million from other celebrities and sporting figures he worked for – although Morissette, 42, is the only client who has been identified.
It was during Schwartz’s time working with GSO Business Managment LLC in the Sherman Oaks in the US when the fraud was committed. The company gives financial guidance to it’s celebrity clientele as well as managing bank accounts, handling accounts payable and preparing budgets. Schwartz admitted to taking clients’ money for his own personal use including “Client Number 2”, since identified as Alanis Morissette, without her permission.