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Friday, June 8, 2018

Did Lisa Marie Presley's Ex-Manager Mislead Her?

Above, Graceland mansion in Memphis, Tennessee. Photo by Armand Vaquer.

Lisa Marie Presley may or may not have overspent her inheritance, but it seems from court documents obtained by RadarOnline that her ex-manager led her to believe that her finances were just "hunky dory" in several text messages.

RadarOnline reported:
Lisa Marie Presley hit back at her ex-manager, claiming he repeatedly assured her that she was not having financial trouble as he lost her $100 million fortune, in court documents exclusively obtained by RadarOnline.com. 
Elvis’ daughter and Barry Siegel are locked in a vicious court battle over her squandered wealth, with the King’s daughter alleging that he lost all of her money. 
The new documents obtained by Radar were filed in the Los Angeles Superior Court.
Presley claimed she fired Siegel in 2015, “after discovering that Siegel had kept LMP [Lisa Marie Presley] in the dark about the Trust’s true financial condition, having lost more than $100 million of the Trust’s net worth in a matter of only 10 years, and putting the trust deeply into debt,” according to court docs obtained by Radar. 
She blamed the financial crisis on “a single decision in 2005 to sell 85% of the Trust’s stuck [I'm sure they meant "stock" - A.] in “Elvis Presley Enterprise,’” in the documents.

It will be interesting see how those text messages play out in the final resolution as the litigation proceeds. This is only one side, but it doesn't seem to look very good for Siegel.

To read more, go here.

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