Best-selling author Patricia Cornwell has sued those who were in charge of handling her money because, she alleges, millions of dollars are missing from her accounts.
Cornwell claims that her financial management company and business manager were negligent, in breach of contract, and cost her company millions of dollars in losses through risky investments and missing revenues.
Cornwell was a client of Anchin, Block & Anchin LLP for four and a half years until she fired them in July 2009 when she discovered that “the net worth of her and her company, despite having eight-figure earnings per year during the previous four years, was a little under $13 million, the equivalent of only one year’s net income. She also claims in the lawsuit that Anchin had borrowed several million dollars, including mortgages for property and a loan for the purchase of a helicopter, and had lost millions by moving her from a conservative investment strategy to high-risk without her permission.”
Moreover, Cornwell claims that she missed a deadline with her publisher for the first time because of the stress from these financial issues — costing her $15 million.
Anchin and Snapper deny and are challenging Cornwell’s allegations, claiming there is no missing money; an attorney for the company characterized Cornwell as a big spender who lives a “large lifestyle.”
The trial is ongoing in a Boston federal court, and Cornwell is expected to testify.
UPDATE: This past February, a jury awarded Patricia Cornwell almost $51 million.