Elvis Presley’s only child Lisa Marie is suing her former business manager for the loss of almost all her $100 million inheritance.
Lisa is accusing the business manager of “reckless and negligent mismanagement” claiming that of the $100 million, $14,000 is left.
Lisa received the inheritance on her 25th birthday and now at age 50 she claims she has been left with nothing, thanks to Barry Siegel.
In the lawsuit documents, Presley claims Siegel sold 85% of her interest in Elvis Presley Enterprises and then allegedly began liquidating Presley’s assets in order to supplement her trust’s income.
Presley has also claimed Siegel’s business decisions left her with $500,000 in credit card debt.
Siegel have filed a lawsuit in response to the claims, counter-suing for $800,000 in damages.