[Hyman Roth]

Was he wrapped up like a douche?

[Liz]

Clive Davis was ousted from his position as president of Columbia Records (part of CBS) in May 1973 when the company filed a civil suit accusing him of using $94,000 in company funds (roughly $700,000 in today’s money) for personal expenses.

The specific allegations included:

Apartment Renovations: embezzling company money to pay for extensive remodeling and alterations to his New York City apartment.

Lavish Parties: Bankrolling a $20,000 bar mitzvah for his son at the Plaza Hotel.

Vacation Housing: Renting a summer home in Beverly Hills using corporate funds.

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Davis denied the charges at the time, claiming that an underling (David Wynshaw, the head of artist relations) had forged invoices and misappropriated funds without his knowledge. Wynshaw was later charged and went to prison for running fake companies, tax evasion, and fraudulent invoicing.

Davis was eventually charged with six counts of tax evasion, of which he pleaded guilty to one lesser count and was otherwise exonerated.

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Clive Davis as president was also accused of providing drugs to artists. While a grand jury investigated the broader music industry’s involvement in hard drugs and payola at the time, Davis vehemently denied personal drug involvement.

He went on to found Arista Records in 1974.

[ConservativeMind]

Was he wrapped up like a douche?

That one made me laugh pretty hard. I have tears on my cheeks, in fact.