U2 Bassist Suing Bank Of Ireland Over Misappropriated Millions

U2 bassist Adam Clayton is suing the Bank of Ireland Private Banking and an accounting firm.

U2 Bassist Suing Bank Of Ireland Over Misappropriated Millions
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U2 bassist Adam Clayton is suing the Bank of Ireland Private Banking and an accounting firm, claiming his former personal assistant Carol Hawkins misappropriated 4.8 million of his funds. According to an article last Thursday in The Irish Independent, Clayton says Hawkins took the money over a five-year period ending in November 2009. The suit names the Bank of Ireland as well as Dublin accounting firm Gaby Smyth & Co. The Irish Times reports that Clayton is seeking 4.38 million in damages (nearly $7 million dollars) from the bank and 4.8 million in damages ($7.5 million dollars) from the accounting firm for "alleged negligence and breach of contract". Clayton claims the accountants told him in September 2008 the actual misappropriated sum was 13,585 million when it was actually close to 4.4 million. Last November a judge made a series of orders and directions requesting both sides provide information and documentation prior to the hearing, but both parties want clarification of those orders. Mr. Justice Paul Gilligan stated he would clarify the orders and give his decision in approximately two weeks. Clayton has brought separate proceedings against Ms Hawkins. In January 2011, she was charged with 184 counts under the Criminal Justice (Theft and Fraud Offences) Act 2001. This is not the first time Clayton has gone to court over financial issues. As previously reported last year, he went after U2's financial mastermind Gaby Smyth for alleged negligence. U2, who completed their 360 world tour last summer, are off the road with no update on promised new music album. The band released their last studio album, "No Line On The Horizon", in 2009. Thanks for the report to Spinner.com.

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    GaryBillington
    Stories like this always amaze me - for those of us who live in the Real World, it is impossible to imagine that you could not notice 4.8 million going missing from your back account!
    WhoAMEye
    claiming his former personal assistant Carol Hawkins misappropriated 4.8 million of his funds
    What did she do? Nick his wallet!
    MonsterOfRock
    BradTheBluefish wrote: Now I'll remember the name of U2's bassist!!
    lol, /watch?v=XArklQ-NK80
    b_flo
    GaryBillington wrote: Stories like this always amaze me - for those of us who live in the Real World, it is impossible to imagine that you could not notice 4.8 million going missing from your back account!
    Working with a lot of these artists, even though it's hard for us to imagine, it happens to a lot of them. A lot of them have other projects and businesses going on besides their musical occupation. That's why they're constantly busy that they hire trusted firms to monitor their cash flow. He's actually one of the ones actually monitoring it...others don't know that they're being robbed....and that's how you get those ones ending up filing for bankruptcy.
    joshuahughes34
    l misappropriated sum was 13,585 million when it was actually close to 4.4 million.
    imagine if it was 13585 million lol (i know its meant to be 13.585)