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Patricia Cornwell wins $51m deal over financial losses | Patricia Cornwell wins $51m deal over financial losses |
(about 1 hour later) | |
US crime writer Patricia Cornwell has won a $51m (£33m) lawsuit against her former financial managers, after a jury agreed their negligence cost her millions in losses. | US crime writer Patricia Cornwell has won a $51m (£33m) lawsuit against her former financial managers, after a jury agreed their negligence cost her millions in losses. |
The firm Anchin, Block and Anchin LLP said no funds were missing from the author's account. | The firm Anchin, Block and Anchin LLP said no funds were missing from the author's account. |
It blamed losses on the recent recession and on Cornwell's supposedly extravagant spending habits. | It blamed losses on the recent recession and on Cornwell's supposedly extravagant spending habits. |
Cornwell is best known for novels about heroine medical examiner Kay Scarpetta. | Cornwell is best known for novels about heroine medical examiner Kay Scarpetta. |
In a lawsuit in federal court in Massachusetts, the writer said that in 2009 she discovered her net worth was less than $13m, even though she had an eight-figure annual income for the previous four years. | In a lawsuit in federal court in Massachusetts, the writer said that in 2009 she discovered her net worth was less than $13m, even though she had an eight-figure annual income for the previous four years. |
'Huge ordeal' | 'Huge ordeal' |
Cornwell found out "that Anchin had borrowed on [her] behalf collectively several million dollars, comprised of mortgages for real property and a loan for the purchase of a helicopter," the complaint says. | |
Cornwell also accused her financial managers of failing to arrange temporary accommodation for her when renovation on her home took longer than expected. | |
The complaint adds that because Cornwell suffers from bipolar disorder - a condition she says her business managers were aware of - the author's "ability to write is dependent upon the ability to avoid distractions". | |
"A quiet, uninterrupted environment, free of the distractions of managing her business and her assets, including her investments, is essential to her ability to write and to meet her deadlines," it says. | |
Cornwell said that as a result of the disruption she missed a book deadline for the first time in her career. | |
"This was very destabilising. I really lost my ability to focus and concentrate. I did not know what the book was about anymore," Cornwell said, according to the Associated Press. | "This was very destabilising. I really lost my ability to focus and concentrate. I did not know what the book was about anymore," Cornwell said, according to the Associated Press. |
In a lawsuit, Cornwell said the missed deadline cost her about $15m - a year of income - in book advances and commissions that could not be recovered. | In a lawsuit, Cornwell said the missed deadline cost her about $15m - a year of income - in book advances and commissions that could not be recovered. |
"God bless justice," Cornwell said, upon learning of the verdict. "It's a huge relief and it's been a huge ordeal." | "God bless justice," Cornwell said, upon learning of the verdict. "It's a huge relief and it's been a huge ordeal." |
Anchin, Block and Anchin described Cornwell as a demanding client who would use the firm for everything from arranging care for her mother to taking her clothes to the tailor. | Anchin, Block and Anchin described Cornwell as a demanding client who would use the firm for everything from arranging care for her mother to taking her clothes to the tailor. |
Her former financial manager Evan Snapper denied the writer's claims during testimony. | Her former financial manager Evan Snapper denied the writer's claims during testimony. |
"I did not steal any money from anyone," he said. "The money was there." | "I did not steal any money from anyone," he said. "The money was there." |
James Campbell, an attorney for the defendants, said the firm was considering appealing against the verdict. | |
"We continue to believe the firm acted professionally and appropriately," he told the Boston Globe. "For more than 90 years, the professionals at Anchin have built a reputation for honesty and integrity. The firm will endure in spite of today's outcome." |