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 in “Elvis Presley Enterprise,’” in the documents.
Presley provided text messages with Siegel that she claimed show she was mislead by him into believing her finances were solvent.
“January 26, 2012: Lisa asks How is everything going with my finances? Siegel replies ‘We are in good shape on your finances… I understand you’re going to Memphis at the end of the month. Any plans to tour now?”
Another text from Siegel to Presley read: “May 16, 2013 I would like to set up a meeting to go over finances… We are OK and I would like to go over the tour budget with you when I get back… Hope all is well Barry.”
And she claimed another stated: “February 17, 2014 OK I understand and now I can work with your wants to be sure you can maintain your lifestyle and provide for your future as well. I will bring information regarding the very highline homes throughout the world but for now take a look at the website Exclusiveresorts.com. As soon as we sell the properties I will start the search for the proper plane this is doable (sic).”
Presley also claimed a text message from Siegel tried to convince her she was not having money troubles in docs obtained by Radar.
“May 24, 2014 Barry writes I know this has been a very difficult time for you and be assured that we are doing everything on our end to maintain both your current lifestyle in the future security of your family.”
Presley and Siegel are scheduled to meet in court on June 18, 2018.