Lisa Marie Presley Tries To Block Subpoenas Over Elvis’ Money In Massive $100 Million Battle
Lisa Marie Presley has just gone to court to try and block her former business manager from seeing her financial records, including how much money from her father Elvis Presley is in her bank.
Court documents show that Lisa Marie has asked a judge to shut down subpoenas fired off by her ex-business manager Barry Siegel, who she has accused of squandering her $100 million Elvis fortune. Barry has denied the allegations and fired back by accusing Lisa Marie of overspending and countersuing her for $800,000.
In her latest filing, Lisa Marie claimed that Barry sent Deutsche Bank a subpoena and that he is seeking “the production of confidential financial records and/or the financial records of the Promenade Trust.” The Promenade Trust had been created to hold the money Lisa Marie receives from Elvis’ estate.
Lisa Marie says that the subpoenas have no time limit and seek all her record, which she has a problem with since the lawsuit pertains to the years 1993 until 2006, specifically 2004 until 2006. She does not believe Barry has the right to see the bank records following his termination, as she believes he will use her records to “divert attention from their own actions and to embarrass Ms. Presley.”
When she filed her lawsuit against Barry last year, Lisa Marie accused her former manager of dissipating her fortune “through his reckless and negligent mismanagement and self-serving ambition.” She then alleged that he put her money into a risky investment, “in risky ventures in hopes of attaining his own celebrity in the entertainment industry.”
Lisa Marie claimed that Barry decided to sell 85% of her interest in Elvis Presley Enterprises and used it to align himself with a famous investor. She went on to say that he “put his own best interests ahead of her in order to put himself in proximity to [the investor] and his celebrity circle.” Barry has denied that these allegations are true.
“It’s clear Lisa Marie is going through a difficult time in her life and looking to blame others instead of taking responsibility for her actions,” Barry’s attorney said. “The 2005 deal she is complaining about now cleared up over $20 million in debts Lisa had incurred and netted her over $40 million cash and a multi-million dollar income stream, most of which she managed to squander in the ensuing years.”