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James William Guercio


mjzee

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He was still alive (and kicking) in 2001.

Found this on the Launch Music News site:

Chicago Sued By Former Manager For Fraud

(LAUNCH, 07/03/2001 7:00 AM)

By Bruce Simon

(7/3/01, 7 a.m. ET) -- The members of Chicago are being sued by their former manager for breach of fiduciary duty, fraud, and other charges. James William Guercio, who managed Chicago and produced its albums from 1967 to 1978, claims the band members have consistently cheated him out of royalties by underreporting the amounts owed to him since they parted company.

Guercio's suit also names the band's current management team as being "the primary orchestrators of the fraudulent scheme," as well as the group's record label, Chicago Records Inc. Throughout the suit, filed Friday (June 29) in Los Angeles Superior Court, Guercio says the actions of the band and its management have been "fraudulent, willful, malicious, and oppressive."

The suit claims that Guercio has been short-changed ever since 1978, when he signed an agreement terminating his relationship with Chicago that also guaranteed he would receive all monies owed and a fair accounting in the future. Guercio believes that Chicago and its management and affiliated companies never had any intention of paying him what was owed or of making sure others made proper payments, citing a $750,000 underpayment by CBS Records that was settled in 1990. He's asking that the agreement be rescinded and that his ownership stake in the master recordings of the first 12 Chicago albums be returned to him.

Guercio is also seeking general and special damages of at least $5,000,000; punitive damages, interest on all monies awarded, a full accounting of all deals and transactions since at least 1995, attorney's fees, and any other relief deemed valid by the court.

Guercio filed the suit on behalf of himself and his companies--James William Guercio Enterprises, Inc.; Posideon Productions (a division of James William Guercio Enterprises, Inc.); Caribou Management Corporation; Euripides Financial Management; and Big Elk Music.

Chicago had no comment at press time, according to a spokesperson for the group.

Interesting character that Guercio! He directed a couple of good films.

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Produced Chicago, Blood Sweat & Tears, and Moondog. Was very successful. Anybody know what he's doing now?

Prior to that, he produced The Buckinghams for a few albums, and if you want to hear the blueprint for a lot of the "classic" Chicago stuff (the first 3 or 5 albums, when they were still a "horn band" first and foremost, you'll need to check them out.

Didn't he move to Colorado? And wasn't that whole Caribou label thing his deal?

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