According to TMZ, the daughter of Elvis Presley is about to file a lawsuit against her former business manager, Barry Siegel, who she says blew all the money she inherited from her famous father!
The suit claims Siegel sold 85% of her interest in her father’s estate, aka Elvis Presley Enterprises, and gave the money to investor Robert F.X. Sillerman — who lost it when the investments went belly up.
He also spent $9 million on an estate in England, which was repossessed when he couldn’t afford the payments, and stopped paying her taxes — leaving her owing the IRS $7 mil!
Presley says Siegel lied to her about financial matters, and all she had left when she finally realized what was going on was $14,000. Pretty meager when you consider the King’s fortune.
Siegel is apparently planning on countersuing for $800K, claiming Lisa Marie’s reckless spending habits left her broke and unable to pay his fees.
Presley’s attorney, Amjad Khan, says his team is ready for this defense, telling TMZ:
“We recognize that Siegel will respond by attempting personal attacks on Ms. Presley, but we must file suit to hold Siegel and Provident accountable for the harm they have caused to the Presley estate.”
Do YOU think Lisa Marie really spent all that money?
Or did she get swindled???
[Image via FayesVision/WENN.]