☠ (toddies) wrote in ohnotheydidnt,

toddies
ohnotheydidnt

Lisa Marie Presley claims her business manager burned through her $100 million trust



-Lisa Marie Presley filed a lawsuit against her former business manager Barry Siegel for negligence, constructive fraud & breach of trust. She claims Siegel “placed her assets in risky ventures in hopes of attaining his own celebrity in the entertainment industry” and used her $100mn trust to establish himself as an investor with other celebs. She says she has only $14k in cash left and $500k in credit card debt
-Siegel has filed a lawsuit against Presley for breach of services, saying her financial situation was caused by out of control spending and that his decision to sell off 85% of her interest in Elvis Presley Enterprises cleared $20mn in debt and earned her $40mn in cash and a "multi-million dollar income stream." Siegel says she's looking for someone to blame for financial troubles she caused





-In her recent divorce lawsuit, LMP claimed she's $16mn in debt and owes the IRS $1.6mn. Her estranged husband Michael Lockwood says she's lying about her debt. He still expects her to pay his $450k legal fees.

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Tags: divorce, legal / lawsuit
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