Music accountant charged over alleged $2.2m fraud
An Australian music industry accountant has been charged over the alleged embezzlement of A$2.2 million (€1.35m) from prominent clients including festivals and artists.
Damien Luscombe, a former partner and business manager at accountancy firm White Sky Music, is accused of several counts of obtaining financial advantage by deception and using false documents, reports The Age.
White Sky, which looks after the finances of of more than 500 artists, promoters, music festivals and record labels, reportedly suspended Luscombe in October last year after discovering discrepancies in the accounts of multiple major clients. The firm called in external auditors and provided a statement to Victoria Police’s fraud squad.
Alleged victims include Grammy-winning artist Gotye, electronic music group Peking Duk and organisers of the Laneway Festival.
Victoria Police have given the following update on the case.
“A 38-year-old South Morang man was charged with a range of offences including obtain financial advantage by deception and make/use false documents”
“Detectives from the financial crime squad have charged a man following an investigation into allegations of fraud relating to the management of a Collingwood-based business between 2011-2022,” says a spokesperson.
“A 38-year-old South Morang man was charged with a range of offences including obtain financial advantage by deception and make/use false documents.”
According to The Music Network, White Sky has declined to comment on the latest developments, but in October last year the company said it was in “absolute shock”.
Luscombe was bailed to appear at Melbourne Magistrates’ Court on 1 June.
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.