Master of Disaster
Lisa Marie Presley sues ex-manager after Elvis cash falls to $14,000
Various Scn reges are very unhappy right now...Elvis’s daughter, Lisa Marie Presley, inherited his $100m (£71.5m) estate in 1993 at the age of 25. Another 25 years later, she says in a lawsuit obtained by US media that she is down to her last $14,000.
Presley blames her former manager Barry Siegel for her precarious finances, and filed a suit last week against him accusing him of “reckless and negligent mismanagement” of her inherited estate.
In the suit, first reported by the US website the Blast, she claims that her cash reserves were whittled down because of Siegel’s poor investment decisions. He has countered that Presley is to blame, alleging in a lawsuit of his own that she squandered much of her fortune. He is demanding $800,000 in damages for non-payment.