Photo: Flickr / vazzz
Pearl Jam is in the news again, this time for choosing a lousy financial advisor. According to Seattle Time’s Sara Jean Green, the grunge group’s former chief financial officer, Rickey Goodrich, allegedly bilked $380,000 from the band between October 2007 and June 2010.
He’s being charged with 25 counts of first-degree theft and eight counts of second-degree theft, court papers said.
The papers allege that Goodrich used the band’s Amex card to fund his lavish lifestyle, including shopping on iTunes and Amazon.com, family vacations in places like Boulder, spa treatments and fancy California wines. Some purchases totalled as much as $19,000.
Goodrich burned bridges with the band in 2009 for his “lousy and incomplete accounting,” but things got nasty after a tour in May 2010, when guitarist Mike McCready accused Goodrich of screwing them out of $15,000 in “road cash” that was meant for the band and crew, according to Seattle Times.
If convicted, Goodrich could face 3 and a half to 5 years in prison.
For now his story serves as a cautionary tale to anyone seeking financial help. Poor performance, ethical issues and a mismatch of values are always good warning signs to look out for.