Lisa Marie Presley Suing Business Managers For Squandering $100 Million

Lisa Marie Presley is at the verge of submitting a significant lawsuit in opposition to her former financial managers. She claims that the monetary wizard Barry Siegel squandered more than $100 million over 10 years in addition to offered 85% of her interest in Elvis Presley Enterprises and then gave the cash to the mythical investor Robert F.X. Sillerman to achieve favor with him. Presley claims that Siegel's mismanagement of her price range and property has left her broke. Of direction Siegel has fired back and is claiming that Lisa Marie is broke because she spent an excessive amount of money.

Presley is accusing Siegel of spending $9 million of her money to purchase an English property after which may just no longer make the balloon fee at the property. She also claims that Siegel hasn't filed a tax go back on her behalf since 2012, which has led to a $7 million tax invoice.

Presley claims that as of May 30, 2016 her believe was totally depleted and she or he most effective had $14,000 cash. Additionally she had $500,000 in credit card debt.

Jason Merritt/Getty Images

Conversely Siegel claims that Lisa Marie overspent her solution to poverty. He says this isn't the first time she's done that. Spiegel alleges that in 2003 Presley was $20 million in debt and he is the person who dug her out of that hole.  He claims that he spent a decade seeking to get her to stop spending her cash however Presley did not concentrate to him.

Word in the street is that Siegel is making plans to countersue Elvis' daughter for $800,000 in unpaid management fees.

Barry Siegel is a most important at Provident Financial Managers. Other well-known clients of the firm include Rob Thomas and Al Pacino. Siegel was additionally a Trustee of Lisa Marie's believe.

ncG1vNJzZmivp6x7pLHLnpmroaSuu6bA1qipraBemLyue8Crq6KbnJrAcLHNrZyrrJGeu66xza1kmqqknrCtsdJoo6KrkWK6or7InmSpqpWouabFjKysoqaXYq%2B2v8innKyrXaKur63GnqmsZaOmwqK6w56poqaXYn5xfIymoKWkmaS7cA%3D%3D