Lisa Marie Presley Suing Former Manager For $100 Million

Legal woes Lisa Marie Presley filed a lawsuit Wednesday against her former business manager Barry J. Siegel for whittling her $100M fortune down to $14K

Legal woes Lisa Marie Presley filed a lawsuit Wednesday against her former business manager Barry J. Siegel for whittling her $100M fortune down to $14K

Lisa Marie Presley has filed a lawsuit against her former manager, accusing him of sinking her $100 million fortune by making failed investments. But Presley claimed that in 2005, Siegel sold 85 percent of her interest in Elvis Presley Enterprises for $100 million and used the money he obtained from the sale to invest in Core Entertainment.

Unfortunately, the company went belly-up in 2016 and Lisa's stock plunged significantly, because of this she claims that she incurred losses to the tune of $24.5 million. In response to his request for her to help pay his $450,000 in legal fees, Lisa Marie filed documents claiming she owes more than $10 million in taxes and had defaulted on debt of more than $6 million from her home in the United Kingdom.

The documents state that "Siegel never provided Lisa with the required accounting at any time after the Core deal" and had "reportedly led Lisa to believe she was in "good shape" with her finances".

The "Nobody Noticed It" singer, 50, is suing Siegel for $100 million because she believes that she has "been damaged in an amount that has not yet been fully ascertained, but is believed to be in excess of $100 million", the docs read.


Presley wrote in the documents that she was left with a little of $14,000 and $500,000 in credit card debt.

According to reports, Presley claimed in divorce proceedings that she is $16 million in debt, although this has been disputed by Lockwood, who argued that "she has not disclosed her assets or their values". Lisa Marie inherited her father's estate in 1993, and the 2005 Core deal was reportedly meant to save her from having to file bankruptcy due to her spending habits.

Spiegel has sued the singer for breach of services, he claimed that she "has only herself to blame for her financial and personal misfortunes". They passed away in 1979 and 1980, respectively, leaving Lisa Marie as the sole heir to the Presley fortune.

The ex-wife of Michael Jackson - whose mother is Priscilla - was only nine when "The King" died age 42 in 1977, and she became joint heir to the estate with her grandfather Vernon and her great-grandmother Minnie Mae.

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