After Lisa Marie Presley split from her fourth husband Michael Lockwood, one of the many things she accused him of was blowing through her $300 million fortune. TMZ says that she’s now blaming $100 million of her money problems on her former money manager. TMZ has obtained a copy of a lawsuit they believe will most likely be filed today by Lisa Marie’s lawyers.
In the lawsuit, she claims her financial manager of ten years Barry Siegel fucked over her finances after she gave him 85% of her interest in Elvis Presley Enterprises. Barry gave that interest over to an investor named Robert F.X. Sillerman who invested it. Lisa Marie claims the investments didn’t pan out, and she was left broke.
Lisa Marie alleges Barry used $9 million of her money to buy an English estate that he was unable to make payments on. Barry also allegedly stopped paying Lisa Marie’s taxes in 2012, which left her with a $7 million tax bill. Lisa Marie claims in her lawsuit that by May 2016, her trust was drained, she owed $500,000 on credit cards, and she only had $14,000 in cash.
But while Lisa Marie is alleging Barry left her broke, TMZ says that his team blames her money problems on her. Barry says that Lisa Marie had already gone broke twice and was $20 million in debt in 2003, and he was the one who tried to get her financials back on track. TMZ says that if Lisa Marie files her lawsuit, Barry will counter-sue her for $800,000 in unpaid management fees.
Johnny Depp’s ongoing fight with his former money managers has taught me that finances are beyond messy when you’re dealing with a famous owner of millions. Like, could I see Lisa Marie spending all that money herself? Sure. Could I also see someone taking advantage of her money? Yep. Literally the only way to avoid any financial surprises would be for someone to start a management company called Mattress Financial. For a small fee, a paranoid hillbilly will take your money and stick it under their mattress. And the only financial theft to worry about is that they might sneak a $10 for a fresh can of chewing tobaccy.