Celebs blame cash woes on accountants

What do Rihanna, Adam Clayton from U2 and NBA star Kevin Durant all have in common? All have recently taken their accountants to court on accusations of negligence and misconduct.

A spate of high-profile lawsuits earlier this year made it look like take-your-accountant-to-court month for celebrities. Pop singer Rihanna sued her former accountant for US$35 million, alleging she lost US$9 million in 2009 on his advice to buy a US$7.5-million Beverly Hills mansion (which turned out to be mouldy and leaking), even though she was running out of money. The accountant says the 26-year-old musician, now worth a reported US$43 million, was in financial straits because she abandoned her 2010 concert tour to be in a movie. Adam Clayton, bass guitarist for rock band U2, settled legal action against an Irish accounting firm in which he claimed 4.8 million euros ($7.3 million) for negligence and breach of contract. Details of the settlement were not released. Finally, NBA star Kevin Durant sued his former accountant for US$600,000 over "mistakes" on his taxes, such as deducting fees paid to Durant's personal chef as a business expense. The Oklahoma City Thunder forward later dismissed the suit.


About the Author

Tamar Satov

Tamar Satov is managing editor of CPA Magazine.

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