Former manager and lawyer had diverted money away from him for 11 years... Sly Stone has been awarded £3.3 million ($5 million) in unpaid royalties. Stone won a lawsuit against his former manager Gerald Goldstein and lawyer Glenn Stone in which he alleged that they had diverted money away from ...
Former manager and lawyer had diverted money away from him for 11 years…
Sly Stone has been awarded £3.3 million ($5 million) in unpaid royalties.
Stone won a lawsuit against his former manager Gerald Goldstein and lawyer Glenn Stone in which he alleged that they had diverted money away from him to them for 11 years from 1989 to 2000, reports The Guardian.
The jury ended up awarding £1.6 million ($2.5 million) in damages to the singer against Even St Productions, the company with with which they made him sign an employment and shareholder agreement, as well as £1.6 million ($2.45 million) against Goldstein and £32,932 ($50,000) against Stone.
However, the defendants’ attorney Gregory Bodell said he believed the case was not yet over. “We are disappointed in the finding and believe it will be changed by further proceedings,” he explained.
In 2011 Sly Stone entered rehab to seek treatment for drug addiction. That same year he revealed that he had been living out of a van in the LA neigbourhood Crenshaw. It was then that he opened the case against Goldstein, suing him for $50 million.