DEEP PURPLE Sues Longtime Accountant For Allegedly Misappropriating Millions Of DollarsJanuary 6, 2017
According to The Times, DEEP PURPLE has filed a lawsuit against its longtime accountant, accusing him of siphoning off up to £4 million (approximately $4.93 million) in band royalties.
Vocalist Ian Gillan, drummer Ian Paice and bassist Roger Glover have sued Dipak Shanker Rao, who has been working for DEEP PURPLE for more than twenty years, for allegedly misappropriating funds from their financial companies, HEC Enterprises and Deep Purple (Overseas) Ltd.
High Court this week froze the assets of Rao, who has admitted "borrowing" or "lending" at least £2.27 million of the company's money. Only £477,000 has been recovered thus far, with both HEC Enterprises and Deep Purple (Overseas) Ltd. having gone into administration a year ago.
Former DEEP PURPLE guitarist Ritchie Blackmore last year sued the companies, alleging that was owed £750,000 in unpaid royalties.
In a 2009 interview with The Telegraph, Gillan admitted he has not been particularly involved in overseeing DEEP PURPLE's financial affairs.
"I'm completely irresponsible," he said at the time. "I'm ignorant about money as a commodity — I have never really understood it. Years ago I decided to delegate running everything to my management because I'm only home three months every year and the rest of the time on tour."
DEEP PURPLE will release its new album, "InFinite", on April 7 via earMUSIC.
The band — which has been eligible for induction into the Rock And Roll Hall Of Fame for two decades now — finally entered the Rock Hall as part of the class of 2016. DEEP PURPLE's first three lineups were inducted, including Paice, Blackmore, late keyboardist Jon Lord, and various singers and bassists — Rod Evans; Ian Gillan and Roger Glover; and David Coverdale and Glenn Hughes.
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