Several weeks ago, a story was planted in the New York Post claiming Rihanna had settled a case she brought against her accountants. The article claimed she settled the lawsuit for $10,000,000. On February 19, 2014, the Judiciary Report called the story rubbish (The Rihanna 10000000 Accountant Settlement Story Isn’t Adding Up). As stated several weeks ago, I’ve signed settlements. Standard settlements contain non-disclosure clauses forbidding litigants from disclosing the sum they receive. To disclose it would mean the other party in the case could sue and take the money back and win financial damages on top of that.
Today, TMZ reported Rihanna’s account has not settled the case and is legally requesting the court throw it out. Her accountant insinuated Rihanna is a foolish spendthrift (in TMZ's words a "moron") who went against his and the firm’s advice. As stated previously, the Judiciary Report agrees with the basic advice Rihanna was given by the accountant - buy a house. It is better to buy a house than rent. It is an investment.
However, Rihanna did not get a proper appraisal or inspection report done on the house and that’s not the accountant’s job. It was another of her mentor/manager, Jay-Z’s dirty business dealings. Jay-Z had his associate passed off the shoddily built, defective house to Rihanna at an inflated price, knowing of its serious flaws. That’s who she should have sued, Jay-Z and his associate. With friends like these, who needs enemies. Jay-Z has been sexually and financial exploiting Rihanna since she was a teenager.
The Judiciary Report has consistently written of Jay-Z’s dirty business practices. Several of the businesses he started by mimicking what others were doing, without actually knowing what he is doing himself, have gone under. He's also stolen businesses and run them into the ground via financial ruin. Sports leagues made rules attempting to keep him and his latest fraudulent, rip off company, Roc Nation Sports out, because they know of his poor legal standing and terrible, shady business practices.
Jay-Z is incompetent, uneducated and unqualified to manage people's careers. He has no degree or real world knowledge of sports management. He's a superstitious charlatan with no real ideas of his own or understanding of sports management. Going to sporting events and watching sports channels does not a sports agent make. Furthermore, the numbers aren't making sense on the sports deals he is apart of, which indicates trouble is coming in another financial fiasco. If these athletes aren't careful, he is going to take their careers down with him.
However, this is a man contacting athletes all over the world with terrible business advice, rooted in his own personal greed and self-interest, when his whole career has been based on illegal payola, copyright infringement, trademark infringement, financial fraud and strong arm tactics (i.e. stabbing a record executive, sending his bodyguards and goons to beat up business people ect).
Besides, once Jay-Z believes he's done you a favor, he thinks he owns you for life, like you made a deal with the devil (and if there's one thing Jay-Z is, it's a devil). Once again, with friends like these, who needs enemies. Why Rihanna thought her fellow adulterer would not rip her off, when he has done so before in management contracts and associated deals, is a mystery. There is no honor among thieves.
Rihanna I Was Bankrupt Because of My Stupid Accountant
2/12/2014 1:00 AM PST BY TMZ STAFF - Rihanna says her accountant made so many boneheaded decisions that he blew her fortune and she was "effectively bankrupt" by the end of 2009. The singer claims in new legal docs she had $11 MILLION in cash at the beginning of 2009. Rihanna says the accountant was not on the ball and she was horrified to learn at the end of the year she had $2 million left. To make matters worse, her expenses doubled, which left her on a financial cliff.
As for how Rihanna blew through $9 million in one year ... she says her accountant gave her the green light to buy a house priced between $7 and 7 1/2 million. So she took his advice. She ultimately sold the house for a $2 million LOSS. She also claims her 2009 tour -- Last Girl on Earth Tour -- was losing money but the accountant never gave her the heads up. The legal docs were filed in connection with a lawsuit Rihanna filed against her accountant, claiming gross mismanagement. BTW ... Rihanna has rebounded nicely. Her net worth is now estimated at $43 mil.
Rihanna's Ex-Accountant A Fool And Her Money Are Soon Parted Which Makes You ...
3/20/2014 1:35 PM PDT BY TMZ STAFF - The gloves are off in the fight between Rihanna and her ex-accountant -- the money man is now firing back in their legal battle over $9 million the singer claims she lost on his watch ... calling her a financially impaired moron.
Accountant Peter Gounis filed the response to Rihanna's lawsuit, insisting he was hired to record and manage her financial accounts -- NOT give her rudimentary spending advice. Gounis claims Rihanna blew through millions of her own money by going on endless shopping sprees -- buying roomfuls of designer shoes, clothes, and jewelry -- and throwing extravagant parties for herself. He also claims she bailed on an expensive tour to shoot "Battleship," which turned out to be a massive failure.
And despite Rihanna's accusations, Gounis insists he never directed Rihanna to buy a dilapidated house. But even ignoring all that, Gounis says, "Was it really necessary to tell her that if you spend money for things you will end up with the things, and not the money?" Gounis wants Rihanna's lawsuit thrown out.