The former business manager of pop star Alanis Morissette has admitted stealing over $7m (£5.7m) from the singer and other celebrities, US prosecutors say.
Jonathan Schwartz was charged with fraud over claims he transferred the singer’s money into his own accounts.
When initially confronted about the theft, Mr Schwartz lied and said he had invested the money in an illegal marijuana growing business.
Mr Schwartz handled Morissette’s finances between 2009 and 2016.
He was responsible for collecting revenue, managing her accounts and organising the payment of bills on her behalf.
At the federal court in Los Angeles on Wednesday, Mr Schwartz admitted to stealing $4.8m from Morissette and more than $2m from other celebrity clients, who have not been named.
His lawyer, Nathan Hochman, said Mr Schwartz had co-operated fully with the investigation and had accepted responsibility.
Mr Schwartz now faces a jail sentence of between four and six years if convicted on criminal charges.
Last year, Morissette sued Schwartz and his former company GSO for $15m in damages, claiming that he transferred money to his own accounts without permission.
It led to an internal investigation at the company, with GSO later issuing a statement saying that it was “shocked” to discover that Schwartz had been using the money to sustain a lavish lifestyle.
The lawsuit was later dropped by Morissette after a settlement was reached.
The Canadian-born singer, whose hits include Ironic and You Oughta Know, discovered the fraud after she appointed a new manager, who noticed sizeable discrepancies in her accounts.
Mr Schwartz is due to appear in court on criminal charges on 1 February.