Why Alanis Morissette is suing her former manager

Alanis Morissette is suing her former manager for stealing $4.7 million from her. Photo / Supplied

Alanis Morissette is suing her former manager Jonathan Schwartz for $4.7 million.

The 41-year-old singer has filed court papers that allege Schwartz - a partner at GSO Business Management, a company which has looked after the finances of Beyoncé and Mariah Carey among others - stole the huge sum of profits over the course of their working relationship which ended last year.

Following their split, the Jagged Little Pill singer hired a new financial manager who investigated her concerns and it is claimed found $4.7 million was missing from her accounts.

According to a report by ET Canada, the findings were presented to GSO and Schwartz who stated the singer had asked him to withdraw the money and invest it into a marijuana business, a claim which she denies.

Alanis threatened to sue GSO but the company are reportedly distancing themselves from the financial manager and even branded him a "disgrace."

The Hollywood Reporter listed Schwartz, 46, as one of 'Hollywood's 25 most powerful business managers' in 2014 and said he was GSO's youngest partner and someone who will "go to extremes" to assist famous clients.

Giving one such example, they wrote: "He once invited NFL cornerback Antonio Cromartie, who had blown through $5 million in his first two seasons, to stay at his home for a couple of weeks for an experiential education in living responsibly."

In the piece, the manager also contributed examples of occasions where has been asked to sign off on expenditure for celebrities who lead a lavish lifestyle.

He said: "Biggest check cut: Probably a private plane. For some of these high-profile clients, you're not going to see them walking around LAX."

Alanis Morissette and husband Mario Treadway. Photo / Getty Images

Meanwhile, Ironic hitmaker Alanis is pregnant with her second child with her husband Mario 'Souleye' Treadway.

The couple already have five-year-old son Ever together.

- Bang! Showbiz