Alanis Morissette’s former business manager has been been sentenced to six years in prison after stealing more than $7 million.
Jonathan Schwartz has been handed a stiff prison sentence and has also been ordered to pay $8.6 million in restitution after he pleaded guilty to wire fraud and tax crimes during the trial.
The 47-year-old manager – who apologised for his actions and wept at the hearing, which focused on his business dealings between May 2010 and January 2014 – admitted: "I alone am responsible for the devastation. I will spend the rest of my life asking for forgiveness."
During the case, Schwartz confessed to stealing more than $5 million dollars from the ‘Ironic’ hitmaker, while he also admitted to thieving an additional $1.7 million from two other unnamed clients.
In a victim statement at the hearing, Alanis urged the judge to impose a harsh punishment on Schwartz, whose firm was reportedly making as much as $1.2 million a year at the height of its success.
She said, according to the Chicago Tribune newspaper: "He did this in a long, systematic, drawn-out and sinister manner."
Schwartz could have faced more than 20 years in federal prison for his crimes, but Judge Dolly Gee ultimately determined that a sentencing guideline of around five to six years was more appropriate.
Previously, it was reported that Schwartz – who is due to report for his prison sentence on July 11 – was listing his illegal withdrawals as "sundry/personal expenses".
But his wrongdoing came to light when Alanis hired a new money manager, who discovered that Schwartz was scamming the alternative rock singer.
When he was first questioned by prosecutors about his financial mismanagement, he claimed to have invested the money in a marijuana-growing business.
More recently, Schwartz claimed his actions were motivated by his addiction to gambling, but prosecutors said he instead used the money to fund his own extravagant lifestyle.