After stealing the public’s money with overpriced CDs for decades, a snake-eating-its-tail story unfolds in the music biz this week as former Universal Music exec Duncan Schwier has reportedly admitted to stealing $1.05 million from the world’s biggest record company. The disgraced suit confessed to the theft at London’s Hammersmith Magistrates Court.
Schwier was released on unconditional bail, and is set for sentencing at Isleworth Crown Court on Sept. 30. When accused, he confessed immediately to the crime, and told the court when entering his plea that “The background for this is a series of cancers for which I have medical reports.”
In other words, he’s fancied himself as the Walter White of the music industry (minus the meth, we assume), jacking cushion funds and, presumably, setting himself up for what’s to come if the big C takes center stage in his life. Whether or not he’s telling the truth is irrelevant; as the record industry continues its slow migration towards the junkyard of top-heavy illegitimate exploitation machines designed to dupe customers into an endless purchase cycle, the vampires are now sinking teeth into their own veins. Selah.
