Stars lose out as royalty money goes missing

Robbie Williams and dozens of other pop stars have been left £700,000 (€1m) out of pocket after money went missing from the firm which pays their royalties, it emerged today.

The Association of United Recording Artists (Aura) has sacked director Peter Horrey after discovering “significant financial irregularities” in the company accounts.

Aura has obtained a High Court injunction freezing Mr Horrey’s assets and an investigation is now underway.

Robbie Williams, Blur, Travis and Tom Jones are among the artists who receive royalties from radio airplay through Aura.

Aura is responsible for collecting and distributing £2m (€3m) a year in royalties to recording artists and producers.

Chairman Stephen King said at least £700,000 (€1m) had been “misappropriated”.

The irregularities were discovered during an audit taken earlier in the year at the west London-based company.

Mr Horrey has been sacked for gross misconduct and has not contested the High Court injunction, Mr King said.

“We do not yet have a final figure for the money that has gone missing. We have called in specialist auditors to search through our accounts back to 1999, but £700,000 (€1m) is our estimate so far,” he said.

“We have written to all our members informing them of the situation and they have been supportive of us. We are taking action to recover the money.”

Mr Horrey was Aura’s membership secretary and its only full-time employee.

He played a key part in building up the organisation and winning members after musicians gained the right, under European law, to be paid for radio airplay.

Mr King commissioned an audit at the beginning of the year as part of an overhaul of the company’s finances.

Mr Horrey, from Stansted, Essex, was unavailable for comment.