The daughters of late music legend Tony Bennett are doubling down on their accusations that their brother, Danny, allegedly mismanaged their father’s funds and their household belief.
Antonia and Johanna Bennett have been locked in a authorized battle with their brother since June, a 12 months after Tony’s passing in July 2023 on the age of 96.
Beneficiaries of The Tony Bennett 1994 Household Belief, the sisters sued Danny – the fund’s sole trustee – over property they alleged have been unaccounted for after their father’s dying.
Antonia and Johanna’s brother Dae can be listed as a beneficiary.
Danny submitted a movement in November looking for to have the case transferred to the surrogate’s court docket or dismissed. Nonetheless, on January 3, Antonia and Johanna filed a movement urging the court docket to reject Danny’s request. They voiced “severe issues” about what they declare as Danny’s “mismanagement” of his fiduciary duties, based on court docket paperwork considered by The Put up.
“Danny acted in a number of, conflicting fiduciary capacities for an prolonged interval previous to Tony’s dying and took (for himself and his youngsters) important funds from the Household Belief,” the sisters allege within the submitting.
“Furthermore, as publicized by Danny to varied media shops, sooner or later previous to Tony’s dying, Tony entered a part of diminished capability, which implies Tony was now not in a position to act as co-Trustee, leaving Danny to function sole Trustee of the Household Belief with no oversight.”
Antonia and Johanna additionally insist they’ve a proper to an account of Danny’s dealing with of their father’s funds earlier than and after the singer handed, claiming there was a “lack of transparency” and alleging Danny was appearing unsupervised.
“[Tony] expressed a transparent intention and route in his property plans that each one 4 of his youngsters be handled equally,” the sisters’ submitting reads.
Antonia and Johanna additionally declare that Danny issued checks from the belief to himself “as he noticed match.” They level to a collection of alleged transactions in 2022, claiming he made“a number of presents to himself” totaling $200,700. Moreover, they allege that Danny took month-to-month advances of $50,000 beginning in 2021 on prime of his enterprise administration fee, although the funds weren’t formally permitted till 2022.
The controversy additionally entails a 2022 deal the place Danny facilitated the sale of Tony’s property to the corporate Iconoclast. Though Danny claimed that Tony was “in monetary hassle” on the time, the sisters argue that monetary data present their father “nonetheless had thousands and thousands of {dollars}.”
They allege that Danny continued to “make presents to himself and his youngsters with Household Belief property,” together with practically $2.6 million in commissions to his firm, RPM Productions. In distinction, Antonia and Johanna declare they’ve every solely acquired $245,000 from the belief.
“With out extra details about Tony’s revenue, it’s unclear whether or not the funds Danny was making to himself exceed what was contractually owed to him,” Antonia and Johanna’s submitting states.
“Statements and administration agreements offered by Danny point out that commissions paid to [his company, RPM Productions] seem to have been a lot greater than they need to have been primarily based on Tony’s revenue.”
The Put up has reached out to Danny’s lawyer for remark.
Tony Bennett established the belief in 1994, with Danny and Dae initially named co-trustees. After amending the belief in 2008, Tony and Danny turned the only real trustees.