YNGWIE MALMSTEEN Awarded $820K In Damages From Former Accountant
According to the New York Post, legendary Swedish guitarist Yngwie Malmsteen has been awarded $820,000 in damages after he was allegedly defrauded by his former accountant and manager.
The guitarist was forced to sell off most of his prized instruments at below-market prices after getting ripped off to the tune of more than $5 million, court papers claim.
Former manager James Lewis faces a pending motion for $2.4 million in damages and interest.
In his Manhattan federal court suit, Malmsteen said the alleged embezzlement was enabled by accountant Michael Mitnick, whom rapper Lil' Kim blamed for her tax troubles during her 2005 perjury trial.
Yngwie claimed that Mitnick conned him into a 1994 deal in which his income was funneled into a bank account controlled by Lewis and Mitnick.
In June 2008, Malmsteen was photographed (see below) by TMZ.com in front of a New York courthouse where he attended a hearing in connection with the above-mentioned case.
To comment on a BLABBERMOUTH.NET story or review, you must be logged in to an active personal account on Facebook. Once you're logged in, you will be able to comment. User comments or postings do not reflect the viewpoint of BLABBERMOUTH.NET and BLABBERMOUTH.NET does not endorse, or guarantee the accuracy of, any user comment. BLABBERMOUTH.NET reserves the right to "hide" comments that may be considered offensive, illegal or inappropriate and to "ban" users that violate the site's Terms Of Service. Hidden comments will still appear to the user and to the user's Facebook friends. If a new comment is published from a "banned" user or contains a blacklisted word, this comment will automatically have limited visibility (the "banned" user's comments will only be visible to the user and the user's Facebook friends). To report any abusive, obscene, defamatory, racist, homophobic or threatening comments, or anything that may violate any applicable laws, please send an e-mail to blabbermouthinbox(@)gmail.com with pertinent details.