Why Lisa Marie Presley is going to court
Lisa Marie Presley is reportedly going to court to sue her former business manager, which she claims whittled her $100 million fortune down to a paltry $14,000.
The 50-year-old heiress to the King is suing Provident Financial Management for breach of trust, negligence, and constructive fraud for leaving her Trust in $500K credit card debt.
Presley also contends the trust placed her assets in risky ventures by her old business mannager Barry J. Siegel, who is countersuing Presley.
“(Siegel) placed her assets in risky ventures in hopes of attaining his own celebrity in the entertainment industry,” the legal docs read.
But Siegel maintains his innocence.
“It’s clear Lisa Marie is going through a difficult time in her life and looking to blame others instead of taking responsibility for her actions.” He said.
“The 2005 deal she is complaining about now cleared up over $20 million in debts Lisa had incurred and netted her over $40 million cash and a multi-million dollar income stream, most of which she managed to squander in the ensuing years.”
What are your thoughts?