YNGWIE MALMSTEEN Awarded $820K In Damages From Former Accountant

February 2, 2009

According to the New York Post, legendary Swedish guitarist Yngwie Malmsteen has been awarded $820,000 in damages after he was allegedly defrauded by his former accountant and manager.

The guitarist was forced to sell off most of his prized instruments at below-market prices after getting ripped off to the tune of more than $5 million, court papers claim.

Former manager James Lewis faces a pending motion for $2.4 million in damages and interest.

In his Manhattan federal court suit, Malmsteen said the alleged embezzlement was enabled by accountant Michael Mitnick, whom rapper Lil' Kim blamed for her tax troubles during her 2005 perjury trial.

Yngwie claimed that Mitnick conned him into a 1994 deal in which his income was funneled into a bank account controlled by Lewis and Mitnick.

In June 2008, Malmsteen was photographed (see below) by TMZ.com in front of a New York courthouse where he attended a hearing in connection with the above-mentioned case.

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