Lisa Marie Presley to Sue Business Manager for Allegedly Squandering $100 Million.
Lisa Marie Presley is about to file a lawsuit against her former financial managers, claiming they squandered more than $100 million over 10 years, but the company says Lisa Marie is broke because she’s a spendthrift.
TMZ has obtained a copy of the lawsuit which could be filed as early as today. She claims financial guru Barry Siegel sold 85% of her interest in Elvis Presley Enterprises (EPE) and then gave the money to Robert F.X. Sillerman as a way of ingratiating himself with the famous investor. She says the investments tanked and left her broke.Among the alleged misdeeds — Presley says unbeknownst to her Siegel spent $9 million of her money to buy an English estate and couldn’t make the balloon payment on the property.
She also says Siegel stopped paying her taxes in 2012 which left her with a tax bill of $7 million.She says as of May 30, 2016, the trust was depleted and only had $14,000 in cash and she had $500,000 in credit card debt.
We’re told Siegel’s position is that Lisa Marie overspent herself into destitution. In fact, he says she went broke twice because of her spending habits. He says as early as 2003 Lisa Marie was $20 million in debt and he was the one who righted the ship. Siegel says he tried hard to get her to stop her excessive spending over the next 10 years but it fell on deaf ears.
We’re told Siegel plans to countersue Presley for $800,000 in unpaid management fees.
ht/ js
There is always porn
Spending $10 Million a year for 10 years, how did she get by?
Or better yet, what did she buy?
Ah, Frank Drebin will support the bitch.
LOL…I guess that letting the wealth management department of Chase, , Wells Fargo etc. which entities do a poor job but will get you through life with your money, was a No Brain er..Deep pockets and insurance available if they do something bad or provably stupid..instead, chose Siegel who chose Sillerman…for almost all of the money. Was it that difficult to spread it to three financial management firms like Schwab etc…I guess it was..Oh well..Presley was a Capitalist who had a fortune and used it to raise many boats while hers sank..
I cannot imagine how you can possibly spend a whole $1 million a year, with nothing to show for it.
Lisa Marie’s spend rate had to be $10 million per year, every year, to spend $100 million in 10 years.
Something ain’t right.
One thing I’ll say is never put all your money in one single place. Ever.
And her mama cries…
In the ghetto.
She opened for Chris Isaak once at the Ryman. Absolutely the most talentless person I have ever been forced to listen to. She sure as hell isn’t spending money on singing lessons.
http://preview.tinyurl.com/y85bmubg
may be she can hang out with the captain?
Rode hard and put away wet describes her now.
She, like her mother was probably shoveling wads of cash to the church of scientology.
Gasp!! She might have to get – a job? Oh the horror.
What’s the old saying, a fool and their money are soon parted. Or is it departed?
If only I’d been handed 100 M$ to squander.
I’m torn between 2 answers:
1) I HOPE SO.
2) Do I care?
When you don’t earn it you don’t appreciate it and you can’t manage it. She is no different than any trust fund baby that is never motivated to do anything productive with their life. They never fully develop their full potential because they don’t have to. And if the trust doesn’t control their spending allowance they end up flat broke.
In a Yugoooooo…
Chaz Bono is wealthy and looking for a squeeze, maybe you should check “him” out.
Alyssa Milano can help her sort that out.
@BLINK: What kind of job could she possibly qualify for?
Poor Lisa. ….too stupid not to get scammed. ….Lady in Red
oh, come on people! … you act like she has no talent or skills ….
it’s got to take a lot of effort to blow the wealth of the 2 greatest (in terms of wealth & sales) of all time! … cut the girl some slack … 😉
… 2 greatest Pop Stars….
Bubbles and Lisa Marie….Bubbles will be the organ grinder…
When she married Michael Jackson I said: Thank goodness Elvis is not alive because it surely would have killed him.
Star lifestyle is hard to give up, I guess.
I would have loved to try to go through 10% of what she went through.
Lazlo could have started his own theme park.
He didn’t file taxes? Ok why didn’t she ask him where the hell the copy of her tax forms were? Didn’t she have to sign anything?
Maybe she’s retarded or a pillhead like daddy.
Priscilla may be shoveling money into Scientology but at least she can afford it–my point being that Lisa’s mother knows how to manage money, and apparently Lisa didn’t get that gene. When he died, Elvis’s estate was in debt (if I remember correctly what I’ve read) and Priscilla not only brought it back but also made it way lucrative.
If I were her I’d be steaming out my ears for my daughter squandering everything she has been given.
Poor Lazlo, I said when it happened if we could hook a generator to The Kangg spinning in his grave, we could have generated enough electricity to light up the whole country. (Yes, and Owl Gore’s house too.)
She can move into a trailer with Depp.
I’ll give her $45 for …………………whatever.
I don’t know how rich people can be BROKE so easily.
I’m broke all the time, and it’s no surprise to me.
Awww … now I’m sad …
izlamo delenda est …