Music business exec accused of stealing from clients

A senior business executive accused of stealing from his big name Aussie music clients has been linked to a high-profile fraud case.

Australian multi-instrumentalist, Kevin Parker (aka Tame Impala) is among White Sky’s many notable clients.

The accountant who gave evidence in support of Guy Sebastian against his former manager Titus Day for fraudulent activity, is now being investigated for ripping off Australian musical stars such as Amy Shark, Peking Duck and Angus and Julia Stone.

We’ve said it before, you can’t make this stuff up.

Sebastian’s former manager Titus Day confirmed to Page 13 on Friday that his lawyers would be following the investigation of White Sky partner and business executive Damien Luscombe “with keen interest.”

“They will be liaising with the Victorian police in the coming weeks and as their investigation unfolds,” Day said.

Damien Luscombe was a business executive to some of Australia’s biggest music acts, including Amy Shark.

Luscombe, the senior partner at music business and accounting firm White Sky, was marched out of the firm’s Collingwood offices last week.

An internal investigation found alarming discrepancies believed to involve up to $1.5 million.

Chart topping clients including Gotye, Tim Minchin and Vance Joy as well as Amy Shark, Angus and Julia Stone and Peking Duck have been informed of Luscombe’s alleged fiddling with the books over a six-year period.

Damien Luscombe has been stood down over the allegations.

Vance Joy was also among Mr Luscombe’s clients. Picture: Adam Yip

Victoria Police confirmed to Page 13 on Friday that its financial crime squad was assisting White Sky with inquiries.

Creatives getting swindled by dodgy accountants is nothing new. Leonard Cohen was famously forced out of retirement after his longtime manager embezzled more than $5 million from him.

There were major discrepancies long after INXS frontman Michael Hutchence’s death and superstar Sting was stung by his showbiz accountant. The list goes on.

In what some music insiders are calling an “ironic twist,” Luscombe gave key evidence in June in the high profile trial of Guy Sebastian’s manager.

Titus Day was later found guilty of having embezzled more than $620,000 from the Australian Idol winner.

Some have now questioned whether Luscombe’s alleged actions could jeopardise this findings in the trial given “one of the key witnesses is now being accused of being a thief himself.”

Insiders told Page 13 an internal investigation conducted by White Sky found Luscombe had been “duping invoices” with payment details made to his personal accounts.

They allege he “got sloppy” over time and was believed to have been motivated to pay off large gambling debts.

Founded 20 years ago, White Sky provides royalty accounting, book keeping and business management services to some of Australia’s best-selling home-grown artists.

White Sky founder Tom Harris is said to have been instrumental in pushing the internal investigation and contacting police.

“Everyone here at White Sky is in absolute shock with the actions of one individual that were recently uncovered,” a White Sky statement read.

“We have an incredible team here and we are all united in continuing to support our clients. We would like to assure our clients that we are committed to working through this with their interests at heart.”

Victoria Police confirmed to the Herald Sun on Friday their financial crime squad was assisting White Sky with enquiries.

“Victoria Police has received a report from an accounting business involving allegations of fraud,” a statement read.

“Investigators from the Financial Crime Squad have made contact with the organisation to assist with enquiries and are awaiting further information to make an assessment on whether an investigation will proceed.”