Ex-CFO for Pearl Jam charged with embezzlement after accounts payable audit

June 26, 2012 The former chief financial officer for the famous rock group Pearl Jam is being accused of embezzling approximately $380,000 of the band's money.

The former chief financial officer for the famous rock group Pearl Jam is being accused of embezzling approximately $380,000 of the band's money. Rickey Goodrich is facing 25 counts of first-degree theft and eight counts of second-degree theft.

According to the Seattle Times, Goodrich participated in the illegal activities between October 2007 and June 2010, until the embezzlement was discovered by another accountant, and he was subsequently terminated from his position in September 2010. After the theft had been revealed, the band conducted its own audit and then turned over the findings to the Seattle police who initiated an accounts payable audit and found the amount stolen, says the Times.

Goodrich was an employee of Curtis, Inc., the company owned by Kelly Curtis, Pearl Jam's manager. The investigation alleges that he stole funds from Curtis, Inc. by making unauthorized wire transfers, purchasing a life insurance policy and forging Curtis' signature on checks he made out to himself, states the news source.

Goodrich had a history of making financial mistakes when he served as the band's accountant at the beginning of his employment in 2005, according to KCPQ-TV. When money was discovered to be missing after a tour and other discrepancies, Goodrich was let go from his position as accountant but was later rehired in May 2010 as chief financial officer, says the website.

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Category: Accounts Payable Analysis

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