Lisa Marie Presley: Bad Investments or Squandered Fortune?

Lisa Marie Presley, 50-year-old daughter of the late King of Rock ‘n Roll, is suing her former business manager, Barry Siegel, for breach of trust, negligence and constructive fraud, claiming he is responsible for her current financial straits. The Blast reported on 2/22/2018 that court documents were filed on Ms. Presley’s behalf, accusing Siegel of “reckless and negligent mismanagement and self serving-ambition,” complaining that her assets were invested in risky ventures, among other shady maneuvers that resulted in her $100 million fortune being reduced to a paltry $14,000, which is probably not enough to pay the electric bill for the multi-million dollar English estate she is trying to unload before it goes into foreclosure. On top of that, she is in debt up to her eyeballs to the tune of over $500 million bananas.

A couple of hours later, on the very same day, the Blast published an article stating that Siegel already countersued. An attorney talked to the Blast on Siegel’s behalf, more or less saying that Lisa Marie is a spendthrift, who squandered her own inheritance. Court documents filed by Providence Financial Management, Siegel’s company, say: “Sadly, since inheriting her father’s estate in 1993, she has twice squandered it. The first time, she was rescued from insolvency by a deal she now calls fraudulent and self-serving.”

It’s all very weird with Lisa Marie going through a divorce at the same time from her fourth husband, Michael Lockwood, the father of their 9-year-old twins, Finley and Harper. About a year ago, she made claims against him that she found “disturbing images” of children on his computer and was already crying poor mouth.

Lockley vehemently denied the accusation and also insists his soon-to-be ex is lying about being broke. From his viewpoint, it is a malicious smear on his reputation made for the purpose of getting out of paying the $40,000 a month ex-spousal support he is supposed to get.

There’s an HBO documentary coming out this April, “Elvis Presley: Searcher” that Lisa’s mom, Priscilla Presley, is currently going around promoting. Earlier this month, Priscilla appeared on Windy City LIVE. Priscilla is producing the 3-hour documentary and will also narrate it. She often talks about how she raised Lisa Marie out of the spotlight so that she would be “very grounded.” It doesn’t sound like it worked.