Lisa Marie Presley sues former business manager for $100M


In a lawsuit filed in Los Angeles this week, she accuses him of dissipating her wealth "through his reckless and negligent mismanagement and self serving-ambition".

Lisa Marie Presley is lying about the mountain of debt she claims to be under, and about how much money she's earning. according to her estranged husband, Michael Lockwood. According to the docs, which were also obtained by Us Weekly, Presley owes more than $10 million in taxes from 2012 to 2017 and has defaulted on her debt of more than $6 million from her United Kingdom home.

When Siegel's investments - including a $9M English mansion - failed, Lisa Marie claimed he began liquidating her assets to supplement the Trust income.

In the lawsuit, Lisa claims Siegel, who was in charge of the trust that Elvis left behind for her, sold off 85 percent of her interest in Elvis Presley Enterprises for $100 million.

The dueling lawsuits, filed earlier this week in Los Angeles Superior Court, follow the collapse in 2016 of Presley's fourth marriage and her announcement that she was $US16 million ($20.4 million) in debt.

Spiegel's lawyer said in a statement provided to the Daily News, "It's clear Lisa Marie is going through a hard time in her life and looking to blame others instead of taking responsibility for her actions".

Lisa Marie Presley's legal battles are far from over.

Though the singer only cited the $24 million lost from the bad investment, she has sued Siegel for $100 million for financial blips she believes have yet to be accounted for.

However, Siegel and his company, Providence Financial Management, filed their own lawsuit in response to Presley's claims, alleging her out-of-control spending led to her financial predicament.

1970 family portrait: Lisa Marie - whose mother is Priscilla - was only nine when "The King" died age 42 in 1977.

She claimed in a court documents related to her divorce from Michael Lockwood on February 14 that she was $16 million in debt.

She inherited his estate along with her grandfather, Vernon, and great-grandmother, Minnie.