Dr.
Dre
is claiming that he was rippedoff to the tune of $20 Million dollars by PricewaterhouseCoopers,
one of the biggest accounting firms in the world. He claims that
the firm lured him in with promises of expert money management,
but claims they "Robbed me blind." Dre has been in court
for over two years fighting the firm, and he claims he is more
determined now than ever to win his case. The firm has doled out
about $10 Million in settlements to Death Row fraud claims to
Suge Knight and Snoop Dogg. Dre’s case contends that when he was
the owner of Death Row, the firm mismanaged his money.
At the time Federal
Officials were investigating Death Row for money laundering, drum
dealing and gun running. Dre left the label before any of the
investigations began. He also claims the firm diverted his earnings
and failed to disclose it had conflicting interests, which made
him lose millions of dollars. These charges stem from the fact
that the firm also represented Suge Knight. A spokesperson said
that the complaints should be directed at Death Row, and not PricewaterhouseCoopers.
The firm has been
in trouble in the past, being censured for conflict of interest
violations, because employee’s bought stock in companies the firm
had as audit clients. They also paid out a $108 Million dollar
fine for over looking financial irregularities that lead to the
collapse of Robert Maxwell’s British media conglomerate. The firm
also paid out $8 Million dollars to Suge Knight, who claimed that
a PricewaterhouseCoopers employee, Steven Cantrock stole 4.5 Million
dollars. According the lawsuit, the firm neglected to pay Dre
$4.6 million in salary, $1.1 million in artist advances, $3 million
in publishing advances, $2.3 million in unpaid profit from Death
Row and $2.9 million in artist and producer royalties.
