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  1. #1

    You Ain't Nothing But A Hound Dog

    Elvis Presley's $100M fortune gone, daughter Lisa Marie claims in lawsuit
    By Benjamin Brown | Fox News
    Elvis Presley's daughter can proceed with a lawsuit against her former business manager, whom she claims lost her father's $100 million fortune through poor investment decisions, a California Superior Court judge ruled this week.
    During the hearing, the judge denied the motion of manager Barry Siegel to stop Lisa Marie Presley's lawsuit from moving forward, but gave Presley’s ex-manager the opportunity raise the issue again in the future if deemed appropriate, City News Service reported.
    Siegel’s lawyers argued the complaint should’ve been filed in civil court instead of probate court so he could have the right to a jury trial, the paper reported. Probate court handles the assets and debts from a person who has died.
    Amjad Mahmood Khan, an attorney for Presley, said they were "pleased" with the court's decision.
    "We now look forward to conducting a complete factual investigation that will reveal the full extent of Mr. Siegel's gross mismanagement of Ms. Presley's finances and breaches of his obligations as trustee to safeguard the Presley estate," Khan said.
    Siegel did not immediately return Fox News' request for comment.
    Lisa Marie Presley is the sole heir to the estate of her father, who died at age 42 in 1977. She alleges that Siegel and his company, Provident Financial Management, “enriched himself with exorbitant fees” while dwindling down the fortune to less than $15,000 via 'reckless and negligent' business decisions, the Daily Mail reported.
    Siegel has countersued for $800,000, alleging Lisa Marie Presley was responsible for the financial problems due to “uncontrollable spending habits,” according to the Daily Mail.
    Presley claims her former manager gave himself an annual salary of $701,000 to manage the trust, while deceiving her of the true condition of her finances, the news outlet reported, citing court documents.
    Attorneys for the singer and songwriter also included email correspondence between Presley and Siegel, in which he allegedly assured the King of Rock and Roll’s daughter that she was in “good shape” financially.
    The biggest blunder Presley cites stems from Siegel’s decision to sell the majority of her trust's stock in Elvis Presley Enterprises in 2005. In return, Presley received cash and stock in "American Idol"'s future holding company, the Mail reported.
    But the investment in "American Idol" ultimately went bankrupt, losing “$24.5 million of the $25 million in stock that was received in the sale of EPE” in just one week, according to the paper, citing court documents.
    Presley’s next court appearance is scheduled for July 30, according to City News Service.
    Benjamin Brown is a reporter for Fox News. Follow him on Twitter @bdbrown473

  2. #2
    If she's the sole heir, doesn't that make her ultimately responsible for staying on top of it.

    Many artists have learned the hard way that you cannot trust anyone to manage your money. If you do have someone work for you, you have to keep an eye on them and even hire someone to watch over them...and hope they don't collude.

  3. #3
    People don't want to believe these things happened, but they do.

  4. #4
    Poor Lisa Marie.
    What a tough underprivileged life she's had to endure. Maybe the Jackson Estate can toss her some coins.


    (Where's Priscilla?)

  5. #5
    Quote Originally Posted by Boogiedown View Post
    Poor Lisa Marie.
    What a tough underprivileged life she's had to endure. Maybe the Jackson Estate can toss her some coins.


    (Where's Priscilla?)
    She will not get anything from MJ's Estate. I haven't heard anything about her mom in years.

  6. #6
    Who'd knew the heir of one of the most successful recording artists in history (I said one of them because I think MJ has now surpassed Elvis as the most successful solo recording artist of all time now) is now struggling with finances?

  7. #7
    Quote Originally Posted by marv2 View Post
    She will not get anything from MJ's Estate. I haven't heard anything about her mom in years.
    I don't know why that was brought up, she had been divorced from MJ since 1996. So it wouldn't make sense for MJ's estate to pay her.

  8. #8
    Quote Originally Posted by midnightman View Post
    Who'd knew the heir of one of the most successful recording artists in history (I said one of them because I think MJ has now surpassed Elvis as the most successful solo recording artist of all time now) is now struggling with finances?
    Look at what happened to Florence Ballard and David Ruffin.

  9. #9
    Besides the joy she brought into the Jackson entity ,Enduring that kiss alone should be worth another five or 6 million.

  10. #10
    Quote Originally Posted by marv2 View Post
    Look at what happened to Florence Ballard and David Ruffin.
    Yeah but Elvis sold 300 million records worldwide and at least nearly 200 million of those were HERE in the U.S., not to mention the money made from years of concert tours and films.

    She sold the estate rights for $100 million and lost most of it due to bad management and decisions.

    Flo and Ruff always had their money stolen because of the label they were with, plus they're known for which group they were in so it doesn't compare.

  11. #11
    Quote Originally Posted by midnightman View Post
    Yeah but Elvis sold 300 million records worldwide and at least nearly 200 million of those were HERE in the U.S., not to mention the money made from years of concert tours and films.

    She sold the estate rights for $100 million and lost most of it due to bad management and decisions.

    Flo and Ruff always had their money stolen because of the label they were with, plus they're known for which group they were in so it doesn't compare.
    I didn't ask you that.

  12. #12
    I ain't feeling sorry for nobody that squandered[100 million]do you know how much hooch that would buy?hehehehe.

  13. #13
    Quote Originally Posted by marv2 View Post
    I didn't ask you that.
    Marv, what are you talking about?

    @arr&bee, I agree! All that money and she wastes it?! Like I said, her father was at one time the best-selling recording artist in history and she squandered the money she got from selling his estate?

    The Gaye family handle their finances better than LMP!!!

  14. #14
    FOR THE PERSON WHO HAS EVERYTHING
    Elvis private jet is for sale
    Name:  elvis-jet.jpg
Views: 153
Size:  53.9 KB

    edafan

  15. #15
    Quote Originally Posted by midnightman View Post
    Marv, what are you talking about?

    @arr&bee, I agree! All that money and she wastes it?! Like I said, her father was at one time the best-selling recording artist in history and she squandered the money she got from selling his estate?


    The Gaye family handle their finances better than LMP!!!
    I am talking about Florence Ballard and David Ruffin were parts of two of the most successful music acts of the 1960s and their estates zeroed out similar to what has now happened to Elvis Presley. I don't know why you have to make it a competition between 3 well known, well loved, now deceased music artists by bringing up

    Midnightman - " Yeah but Elvis sold 300 million records worldwide and at least nearly 200 million of those were HERE in the U.S., not to mention the money made from years of concert tours and films.
    "


    This is not suppose to be a competition. It sounds like to me that you are trying to belittle the accomplishments of Florence Ballard and David Ruffin and I am not having it! All three had more in common, than not. Did you know that all three of their families were poor and originated in Mississippi? All three grew up to become legendary music stars that made the history books. I don't mean to bring Ballard and Ruffin into this thread about Lisa Marie Presley's problems. I just mentioned them and you went off!

  16. #16
    Quote Originally Posted by edafan View Post
    FOR THE PERSON WHO HAS EVERYTHING
    Elvis private jet is for sale
    Name:  elvis-jet.jpg
Views: 153
Size:  53.9 KB

    edafan
    You see the pictures of his "Rec Room" the sofa alone could have cost a fortune!

  17. #17
    I saw this on CNN news.

    Too good a straight line for the comedians on here!!!!!


    Kentucky says leaking bourbon from distillery accident killed hundreds of fish

    edafan

  18. #18
    And i bet each one of em died smilin.

  19. #19
    Quote Originally Posted by edafan View Post
    I saw this on CNN news.

    Too good a straight line for the comedians on here!!!!!


    Kentucky says leaking bourbon from distillery accident killed hundreds of fish

    edafan
    Oh this is too much. LOL!!!!

  20. #20
    Quote Originally Posted by edafan View Post
    I saw this on CNN news.

    Too good a straight line for the comedians on here!!!!!


    Kentucky says leaking bourbon from distillery accident killed hundreds of fish

    edafan

    2 weeks ago, half a bourbon warehouse collapsed. Now, the other half is down

  21. #21
    Here's another one!!!!
    The news is better than any comedy show.

    FROM POACHERS TO PREY

    Lions devour three rhino hunters, leaving behind only shoes, bones

    When members of the anti-poaching unit investigated, they recovered human remains, a high-powered rifle with a silencer, wire cutters, an axe and three pairs of shoes.
    Nick Fox, the park’s owner, said the lions were shot with tranquilizer darts at first light so police forensic teams and the anti-poaching unit could comb the area for clues, and admitted it was not clear how many poachers may have been killed.
    “The only body part we found was one skull and one bit of pelvis, everything else was completely gone,” he told Newsweek. “There is so little left that they don’t know exactly how many people were killed, we suspect three because we found three sets of shoes and three sets of gloves.”
    He added: “They came heavily armed with hunting rifles and axes which we have recovered and enough food to last them for several days so we suspect they were after all of our rhinos here. But the lions are our watchers and guardians and they picked the wrong pride and became a meal.”
    Police spokeswoman Captain Mali Govender said: “We do not know identities but firearms have been taken by the police and will be sent to the ballistics laboratory to see if they have been used in poaching before.”
    In 2016, the reserve saw three of its rhinos shot dead by poachers who broke into the reserve to cut off their horns. All books with the reserve include an option Rhino Levy where the proceeds are donated to a fund fighting poaching.
    The reserve is one of the most popular game reserves in the Eastern Cape and is home to Africa’s big five – elephants, buffalos and leopards as well as rhinos and lions.




    edafan
    Last edited by edafan; 07-05-2018 at 03:04 PM.

  22. #22
    JUST WHEN YOU THINK THE NEWS CAN'T GET WEIRDER

    NEWS TODAY ON FOX

    "Married woman, mechanic having sex in garage die from carbon monoxide poisoning"





    edafan

  23. #23
    Quote Originally Posted by marv2 View Post
    I am talking about Florence Ballard and David Ruffin were parts of two of the most successful music acts of the 1960s and their estates zeroed out similar to what has now happened to Elvis Presley. I don't know why you have to make it a competition between 3 well known, well loved, now deceased music artists by bringing up

    Midnightman - " Yeah but Elvis sold 300 million records worldwide and at least nearly 200 million of those were HERE in the U.S., not to mention the money made from years of concert tours and films.
    "


    This is not suppose to be a competition. It sounds like to me that you are trying to belittle the accomplishments of Florence Ballard and David Ruffin and I am not having it! All three had more in common, than not. Did you know that all three of their families were poor and originated in Mississippi? All three grew up to become legendary music stars that made the history books. I don't mean to bring Ballard and Ruffin into this thread about Lisa Marie Presley's problems. I just mentioned them and you went off!
    Lol nah.

    I'm just saying they're not comparable. They were in GROUPS. That's all I was saying, Marv.

  24. #24
    Quote Originally Posted by midnightman View Post
    Lol nah.

    I'm just saying they're not comparable. They were in GROUPS. That's all I was saying, Marv.
    Guys

    The news about the poachers and the mechanic should give you some laughs.

    edafan

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