Alanis Morissette’s former manager had one hand in the singer’s pocket — and now he’s going to do hard time for it.
Jonathan Todd Schwartz has been sentenced to 6 years in prison in a $6.5 embezzlement case, after admitting to ripping the singer off for nearly $5 million.
In January, Schwartz agreed to plead guilty to wire fraud and subscribing to a false tax return.
The former manager of the “Ironic” singer 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, according to the Department of Justice.
“Mr. Schwartz was hired to protect his clients’ money by managing it professionally, but instead misappropriated millions to enrich himself,” Deirdre Fike, the Assistant Director in Charge of the FBI’s Los Angeles Field Office, said in January. “This case should serve as a warning that there are serious consequences for those who abuse their positions of trust to embezzle funds.”
Schwartz faced a maximum of 23 years in prison, though his plea deal suggested a sentence in the four- to six-year range.