Friday, January 6, 2017

Deep Purple sue accountant after millions of dollars discovered missing

Deep Purple are suing longtime account Dipak Shanker Rao after discovering that nearly $5 million dollars is missing following a review of their company’s books.

The Times reports principal band members Ian Gillan, Roger Glover, Ian Paice and the estate of Jon Lord have filed a lawsuit in London’s High Court accusing Rao of siphoning off up to £4 million in royalties from their financial companies, HEC Enterprises and Deep Purple (Overseas) Ltd.

The High Court have frozen Rao’s assets after he admitted "borrowing" or "lending" at least £2.27 million of the company's money. Only £477,000 has been recovered to date, while both companies went into administration (bankruptcy) a year ago.

The funds were discovered missing during a review of the group’s books after former Deep Purple guitarist Ritchie Blackmore sued the companies last year, alleging that he was owed £750,000 in unpaid royalties.

The financial news comes as Deep Purple are gearing up for the April 7 release of their 20th album, “Infinite.”

Recorded last year in Nashville, TN with legendary producer Bob Ezrin, the follow-up to 2013’s "Now What?!" is bring previewed with a lyric video for the lead single, “Time For Bedlam.”

Deep Purple recently announced a five-date UK tour for November in support of the project.

See also:

Deep Purple release new single Time For Bedlam
Ritchie Blackmore’s Rainbow announces UK tour
Deep Purple preview new album Infinite
Deep Purple announce The Long Goodbye tour
Search Deep Purple at hennemusic
Search Rainbow at hennemusic