Crime Novelist Patricia Cornwell Settles Lawsuit Against Ex-Managers
Jan 19, 2017 07:28 AM EST
Author, Patricia Cornwell has settled a lawsuit against her former financial management firm in the federal court of Boston court, which dates back to 2009.
The famous crime novelist claimed the New York accounting firm Anchin, Block & Anchin LLP to be poor stewards of finances, and to have caused millions dollar loss of millions from the mishandling of her finances.
She claimed that they lost more millions by making risky investments without her consent. In total, she was seeking damages that amounted up to $100 million. She filed the lawsuit, saying that Anchin had borrowed several million dollars, including property mortgages, purchase loan for a helicopter, and caused a million-dollar loss by replacing her conservative investment strategy with high-risk investment without her consent.
Cornwell added saying that the firm manipulated the net worth of her and her company by showing a record of less than $13 million, the equivalent of only one year's net income despite having more earnings in the previous years.
Following the statement, Evan Snapper, a former principal at the accounting firm, defended himself, agreeing that Cornwell's money was indeed leeched out, but only because she had poor spending habit, impulsive buying and loved lavish lifestyle.
The court granted Cornwell a new trial last year. On Tuesday, the case was dismissed after both sides reached a settlement, avoiding a second trial for the case. She refused to comment on the details of the settlement. An Anchin spokesman that represented himself during the trial could not be reached too.
60-year-old Cornwell is best known for her series of novels, most of which follow Virginia medical examiner Kay Scarpetta, that have made Cornwell a recognised name in the country. Her books that mostly revolve around forensic science, are credited as a major inspiration for the renowned TV show "CSI."
Her other bestselling novels include "Postmortem", "Cruel and Unusual" and "Book of the Dead" which have sold more than 100 million copies worldwide.