Sly Stone is suing his former manager Jerry Goldstein for $50m (£30.9m).
The singer claims he is owed money because of fraud and stolen royalties.
In a lawsuit filed to the Los Angeles Superior Court, Stone said that Goldstein kept the money himself over a 20-year period, as well as borrowing money in the band’s name, reports BBC News.
Stone‘s lawyer Robert Allen said the lawsuit highlighted the “dark side” of the music business.
No public statement on the lawsuit has been made by either Goldstein or his representatives.