At his second trial in 1979 the jury found Klein innocent of the felony charges and convicted him of a single misdemeanor charge of making false statements on his 1972 tax return. Klein had failed to register the shows as a UNICEF charity event, however;[103] as a result, the proceeds were denied tax-exempt status in Britain and the US. He was 77. Klein's company, ABKCO, continued to control the rights to publish the Stones' music[68] and it was Klein who made a fortune off the band's all-time best-selling album, Hot Rocks 1964–1971. Andrew Loog Oldhamcommented at a su… Klein had been suffering from Alzheimer's disease, and ABKCO is now run by two of his children. Warner/Chappell was making appropriate payments, but significant amounts were not being passed on to Spector. In 1965, the Stones' managers had enlisted Klein to renegotiate the group's contract with Decca Records in London. [139][63], In 1988 Klein began managing Phil Spector’s business affairs, including his publishing and recording assets. To shelter his clients' money from Britain's high taxation rate on income earned abroad, Klein held the money for them at the Chemical Bank in New York City and paid it to them over periods of time of up to 20 years. Death, dying and bereavement is not funny. Representatives for Klein’s ABKCO Music label and for the Rolling Stones declined comment. He had always attracted controversy and by 1972 had been the subject of more than 40 lawsuits. He was known for his tough persona and aggressive negotiation tactics, many of which affected industry standards for compensating recording artists. Next Klein produced The Man Who Had Three Arms, written by Edward Albee. In the mid-1970s, the Klein reputation and empire began to unravel. [133], In 1971, John Lennon directed Klein's attention to El Topo, a surrealistic western by the Chilean director Alejandro Jodorowsky. His November 1970 three-disc set, All Things Must Pass, was a sales triumph, and produced hit singles in "My Sweet Lord" and "What Is Life". Cooke, the iconic, 33-year-old activist and business mogul from Chicago was murdered December 11, 1964 at a seedy Los Angeles motel after allegedly being robbed by … Cooke created a holding company, Tracey Ltd., which was named after Cooke's middle daughter. Klein's first trial ended in a mistrial because the jury was deadlocked. [33] As Henderson's partner, Klein was introduced to Sam Cooke, a preeminent talent who was equally adept at writing, producing, and performing his numerous hit records. Starting in 1986, when the introduction of compact discs brought great profits to the music industry, relations began to improve between Klein and the Stones. [135], Klein's legs appeared in Lennon and Yoko Ono's 1971 film Up Your Legs Forever. Age 50, of Java Village, died January 2, 2020. Klein invested this money, which earned far more than what Klein was obligated to pay to his clients, and he kept the difference in the accounts, thereby maintaining control over the money. [2], Rather than offering financial advice and maximizing his clients' income, as a business manager normally would, Klein set up what he called "buy/sell agreements" where a company that Klein owned became an intermediary between his client and the record label, owning the rights to the music, manufacturing the records, selling them to the record label, and paying royalties and cash advances to the client. He also arranged for a level of tour support and publicity far above anything the band had ever previously experienced for the Stones' 1965 American tour in support of the album December's Children. Doggett writes: Suspected for their motives, hated for their disruptive power, they all arrived from America and were all regarded as suspects for the crime of breaking up the Beatles, on the assumption that without them the group would have continued happily in each other's company until their dying days. With the possible exception of Alexis Mardas, who occupied a far less central role, nobody in the Beatles' milieu has received a more damning verdict from historians than Allen Klein. Allen passed away on July 4, 2009 at the age of 77 in New York City. Klein was proud of his tough negotiating stance on behalf of the Rolling Stones, the Beatles and others, but his inflexible managerial style led inevitably to schisms with his clients. The company wrote to the State of New Jersey urging officials not to approve him as a Certified Public Accountant, and Klein chose not to take the examination. [92][93] EMI was loath to re-negotiate, but their American subsidiary, Capitol Records, was so impressed by Abbey Road that they agreed to vastly improved royalty terms. Here is Richard Allen Klein’s obituary. For anyone facing a profound loss, this book provides wisdom for the spirit and healing for the heart." [102] The Concert for Bangladesh live album and film raised over $15 million. Their films included a trilogy comprising A Stranger In Town,[128] The Stranger Returns (1967), and The Silent Stranger (shot in 1968 but not released until 1975 by United Artists). Following rancorous London meetings with both Eastmans, in April, Klein was appointed as the Beatles' manager on an interim basis, with the Eastmans being appointed as their attorneys. The IRS, which had been investigating Klein for several years, claimed that Klein and Bennett had sold promotional copies of Beatles and post-Beatles albums—common practice in the music industry at the time—without declaring the sales on their tax returns. [77] After Epstein died in August 1967, the group formed Apple Corps in January 1968. Although Klein greatly increased his clients' incomes, he also enriched himself, sometimes without his clients' knowledge.

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