U2 star sues accountant for over €10m in losses

U2 bass guitarist Adam Clayton has sued his former accountant, Gaby Smyth, for more than €10m losses, plus damages, as a result of several failed property and other investments, including in Ireland and Romania.

Among various claims in two sets of proceedings, Mr Clayton alleges he relied on Mr Smyth as his accountant between 2001 and 2010 and for financial and investment advice. Mr Smyth, negligently and in breach of duty, advised him to enter high-risk investments when the musician did not want to do so, he claims.

Mr Smyth, of Wyvern, Killiney, Co Dublin, denies negligence or acting as Mr Clayton’s financial and investment adviser as alleged. He says he acted as the musician’s personal accountant and tax agent and Mr Clayton’s former personal assistant, Carol Hawkins, prepared his financial reports.