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.
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