Alanis Morissette Manager Pleads Guilty to Stealing $4.8 Mil

1/18/2017 3:09 PM PST

Alanis Morissette's Manager Pleads Guilty to Stealing $4.8 Million

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Turns out Alanis Morissette wasn't the only one with a hand in her pocket -- her former business manager admits to ripping her off for millions, and has now copped a plea with federal prosecutors.

Jonathan Schwartz pled guilty to 2 felonies connected to an embezzlement scheme that fleeced Alanis of $4.8 million. According to the feds ... Schwartz, who has also managed Beyonce and Mariah, admits to jacking the cash from the singer over 4 years. He says he also took about $1.7 mil from other clients.

However, he's not pleading to the embezzlement -- instead the feds got him on wire fraud and filing a false tax return ... for the money he stole. He had been facing up to 23 years in federal lockup, but is now hoping the judge will provide leniency.

TMZ broke the story -- Alanis sued Schwartz last year for the theft. According to court records, she reached a settlement with him in June 2016.