Singer-songwriter Lisa Marie Presley is being sued by her ex-manager, Barry Siegel. A new report reveals Elvis’ only daughter owes her former employee more than $800,000 in unpaid wages.
According to TMZ, Barry filed new legal documents claiming Lisa’s over-the-top spending is what led to a financial crisis, not his mismanagement of her trust. In 1993, a then 25-year-old Lisa inherited her father’s massive $100 million fortune, but just 25 years later, it’s all gone… and then some. In fact, earlier this year it was reported that the “Lights Out” songstress was in the hole by about $16 million, mainly due to unpaid taxes. The bombshell was revealed when she filed for divorce from her husband, Michael Lockwood, after 10 years of marriage.
Back in February, Lisa was the one who sued Barry, alleging she lost $24.5 million after he sold 85 percent of her interest in Elvis Presley Enterprises. In lawsuit documents filed at the time, Lisa claimed her former manager took that money and invested it in Core Entertainment, the parent company of American Idol. Back in 2005, the show was at the top of its game, but in 2016, it folded.
In the same suit, Lisa also blamed Barry for not warning her to stop spending beyond her means. Barry, however, claimed his attempts to stop her from spending went unnoticed.