Cher sues financial managers she claims 'defrauded her of $800,000'

[Serendipity 7,821]

Cher is suing a financial management partnership she claims defrauded her of $800,000 in investments that went wrong, according to the Associated Press.

The suit was filed on Wednesday in Los Angeles County Superior Court on behalf of Veritas Trust, of which the singer is the sole trustee.

It targets Sail Venture Partners and related firms and accuses them of bundling Cher’s money into “risky and unsound” investments. The lawsuit alleges Sail’s principals engaged in “malicious and fraudulent” behaviour.

Messages seeking comment from Sail officials weren’t immediately returned on Wednesday. The suit seeks financial restitution and punitive damages but didn’t specify amounts.

 

 

https://www.theguardian.com/music/2016/jun/09/cher-sues-financial-managers-sail-venture-partners

[Versace 7,979]

Will she tweet about it though

[JusKeepBreathin 19,311]

It real irritates the hell out of me when I read these stories of artists being defrauded. Artist work extremely hard for their money. Touring is no easy thing. Making an album is also not easy it takes time, it takes money and it takes serious hard work to maintain a certain level of success. Sometimes success comes easy but to stay there is hard work. So when the financial manger or lawyers or whatever try to steal money that has been made by blood sweat and tears, it really bothers me.

I hope she gets every dime back with interest.