Deep Purple Accountant Jailed For Stealing $3 Million From Band
(hennemusic) A former Deep Purple accountant who stole $3 million dollars from the band has been sentenced to jail in the UK for more than six years over the issue.
Surrey Live reports Dipak Rao - who worked for the band between 1992 and 2014 - transferred large sums of money from the accounts of two companies that managed the group's royalties - Deep Purple Overseas Ltd and HEC Enterprises Ltd - into his own before being caught by authorities.
Both businesses were started decades ago by former Deep Purple manager Tony Edwards and his business partner John Coletta; Rao's activity was discovered in 2014 when Edwards' children voiced concerns after inheriting parts upon their father's death in 2010.
"The stress that we have been under during this time is immeasurable," said daughter and journalist Abigail Flanagan. "He has devastated the legacy that my father spent his life building. This devastation was brought about by a man that we had known for years and trusted."
Rao - who pleaded guilty to two offences: fraud by abuse of position and transferring criminal property - will serve at least half of his sentence in jail before being released on license. Read more here.
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