Thursday, February 20, 2014

The Rihanna $10,000,000 Accountant Settlement Story Isn’t Adding Up


A story is floating around the press regarding singer Rihanna being offered and accepting a $ 10,000,000 settlement from her former accountants. However, standard non-disclosure clauses forbid litigants from disclosing the settlement sum they received and most of the terms surrounding the legal agreement. Then a judge, who has the legal authority to sign off on or reject the settlement, approves the agreement. That’s how the legal system works. I’ve signed legal settlements and know others who have as well and you are not permitted to disclose the settlement figure. That’s the national standard. 

So how did the alleged $10,000,000 figure get into the papers. For Rihanna and her camp to have leaked it would mean defendant Berdon LLP could sue and get their money back, as the disclosure on her end would be a violation of the settlement terms. Furthermore, Berdon LLP would be sued by other clients for $10,000,000 believing they gave Rihanna a $10,000,000 over what was standard accounting advice. It would be an unwise and unorthodox legal move for Berdon LLP to publicize the terms of the settlement, as it would harm their company in several ways, leaving them open to liability lawsuits.

Actually, I heard the settlement offer Rihanna was given was in the mid six figures, not seven as her camp is claiming (typical Kabbalah Center member - like Madonna claiming Microsoft gave her $10,000,000 for an advertisement, which prompted Microsoft, to her shock and embarrassment, to come out and publicly state they didn’t give her anywhere near that figure). Rihanna is also the same individual who lied about her net worth during a Twitter fight with Teyana Taylor, claiming it was $90,000,000, when in actuality it is not even the $44,000,000 she is now claiming. The figure is based on approximates and over inflated tangible and intangible assets she claims she owns. 

Rihanna claims, Berdon LLP, misled her into buying a home, by stating it was a good investment. That was not bad advice. As a general rule, buying a home is a good investment. It’s better than paying rent. When you buy a home, money accumulates in equity in a property via monthly mortgage payments. However, Rihanna, who should have had the home inspected and appraised, as is the national standard, managed to buy a house with significant defects. That’s why people hire inspectors and appraisers.

Berdon LLP maintained that Rihanna and her managers overspent, dumping profits back into her career, which hit the skids after the Chris Brown domestic violence incident. Yes, Rihanna has had number one records since that time, but it was due to payola, which is alive and well. Rihanna’s music does not shift big numbers like Taylor Swift or Susan Boyle. Many dates of her arena tours were cancelled or suffered from poor ticket sales.

All Rihanna and those working with her have done from day one of her career is steal copyrights (she has lawsuits against her in court and others at pre-filing stage), after landing a record deal from having sex with Jay-Z as a 16-year-old minor (in a relationship that is ongoing and adulterous). There is no honor among thieves. So it’s no surprise, many of those same people robbed Rihanna, after she robbed others.