Actor James Franco's former manager has been accused of stealing from the movie star by executives at his own firm.

Miles Levy allegedly told his partners at James Levy Management that his famous client wished to drop their 15 per cent fee to 10 per cent in 2006, but after the discount was agreed, the money man allegedly continued to charge Franco the full amount - and pocketed five per cent for himself.

According to new legal documents, obtained by, bosses at accounting firm Tanner Mainstain helped Levy set up a shell company to deposit the cash.

In the suit, the plaintiffs also accuse Levy of using his famous client's credit card to make personal purchases.

Franco severed ties with the company last year (13) and reached a settlement with Miles Levy in December.