16:24, July 24 17 0 usmagazine.com

2018-07-24 16:24:07

 

Lisa Marie Presley Sued by Former Manager for $800,000

Lisa Marie Presley is being sued by her ex-manager, Barry Siegel, for $800,000 he claims that she owes him, TMZ reports.

Although Presley, 50, fired Siegel in March 2016, he claims she stills owes him for unpaid work, according to documents obtained by TMZ. Siegel also alleges that Presley wasted father Elvis Presley’s fortune since inheriting her trust in 1993 and insists that Presley’s spending caused her financial troubles, rather than his managing.

The suit comes five months after the singer-songwriter sued Siegel following a failed investment. She alleged that the businessman sold 85 percent of her interest in Elvis Presley Enterprises for $100 million in 2005 and used the money from the sale to invest in Core Entertainment, American Idol’s parent company. But when Core went bankrupt in 2016, the “Nobody Noticed It” songstress claimed she lost $24.5 million.

Days before filing her February suit, Presley claimed that she was $16 million in debt upon filing for divorce from husband Michael Lockwood after 10 years of marriage. According to docs, she also owed more than $10 million in taxes from 2012 to 2017.

Earlier this month, Us Weekly exclusively spoke with Priscilla Presley, who said that her daughter is “doing well” despite her legal battles.