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James Franco's Ex-Manager

Sued for 8 Years of

Stealing & Skimming Franco's Millions

4/18/2014 11:00 AM PDT BY TMZ STAFF
EXCLUSIVE

0418-james-franco-01
James Franco's former manager was robbing the actor blind for nearly a decade by skimming commissions and running up huge tabs on Franco's credit card ... this according to a lawsuit filed by the manager's own firm.

Back in 2006 ... Miles Levy allegedly told his partners at James Levy Management that Franco no longer wanted to pay their 15% fee, and instead would only fork over 10%. The firm agreed to the discount, but according to the suit ... Levy continued to charge Franco 15% and just pocketed the 5% for himself.

Miles had some help pulling this off -- according to the docs ... prominent celeb accounting firm Tanner Mainstain helped him set up a shell company to deposit the siphoned cash. Tanner Mainstain also allegedly collected fees for their dirty work.

According to the suit ... Miles was also digging into Franco's pocket by using the actor's credit card to make personal purchases. He allegedly ran up a six-figure balance.

The jig was up last year because according to the docs ... Franco reached a settlement with Miles in December -- but now his former partners at Levy Management want their pound of flesh too.

65 COMMENTS

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1.

Farrakhan Ashy Larry    

If he wouldn't have had a dong in his face, he would've noticed.

104 days ago
2.

Stiletto    

So...they now both have a lot of money neither of them deserves.

104 days ago
3.

static    

What a dumbass.

104 days ago
4.

Ryuga the Dragon Emperor    

I wouldn't be surprised if it was true.

104 days ago
5.

vroomvroom    

Who cares he's a creep

104 days ago
6.

tgrfan42069    

james tried to pick up an underage girl..yet the media swepted it under the rug..had he been ordinary joe who did it..it would be all over the news and the commentors would be calling for his genitals to be cut off

104 days ago
7.

Tonedknee    

I like how the author put the little pun reference from Shakespeare "Merchant of Venice". Sadly, I bet half of the people here wont catch that joke.

104 days ago
8.

James R. - Los Angeles    

Never heard of him. But obviously, this story is fabricated. Everyone, especially agents, producers and directors in Hollywood are extremely honest and decent.

104 days ago
9.

QueenB    

Rich people problems.

104 days ago
10.

Nobody Special    

This happens more than you think. You need to hire 3 to 5 Lawyers to check and audit the work of others in a complected Business client.
Like Justin Bieber, he is so stoned all the time he has no clue what his money is doing and how much is milked from him. He hired Roy Black to help with his Criminal Business, but he needs to hire the best Entertainment Lawyers like Barry Tyerman in Woodland Hills, Barry is an Eagle watching Clients money and it's well worth the extra money to hire the best.

104 days ago
11.

Sloane    

for Franco supposedly being a smart guy- this doesn't look good

104 days ago
12.

Tryst    

Wow. Just wow. Having friends who have some notoriety, I can't say I'm shocked. Everyone, from family, friends, to business individuals who are crewmen on the ship that is celeb.. have their hands out and stuffed into.. every pocket imaginable. Everyone feels entitled. Everyone wants a piece of the pie.

I hope like hell he'll take a lesson from this and highly suggest he gets an independent audit of his accounts, at least biannually. And that every damned person crewing that Franco ship.. knows that audit/reconciliation is coming. Nothing keeps them honest when they know there's no oversight that will call them on their B.S.

104 days ago
13.

keepinitrealincali    

This continously happens to these actors and other entertainers and these people don't seem to learn for others' mistakes with entrusting their money to strangers. When it comes your money TRUST NO ONE!

104 days ago
14.

imdaman    

That sucks franco Is a good guy

104 days ago
15.

D-INCARNATION    

Two Jewish guys fighting over money, don't figure...

104 days ago
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