Lisa Marie Presley sues former manager for "reckless mismanagement" of Elvis inheritance

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Lisa Marie Presley sues former manager for

Lisa Marie Presley says her former business manager handled her money so poorly that her $100 million fortune was whittled down to a measly $14,000, and says its partly because the guy thought he was actually a celebrity. That's the company that still rakes in millions of dollars every year licensing Elvis's name and image and collecting royalties from his music. That bankruptcy allegedly cost Lisa Marie $24.5 million.

Lisa Marie Presley is lying about the mountain of debt she claims to be under, and about how much money she's earning. according to her estranged husband, Michael Lockwood.

In the Statute the complaint also contains information about the fact that despite numerous requests from the Lisa Maria Siegel has not provided the necessary financial statements, assuring her in a favourable situation.

Part of the nepotistically-privileged singer's financial troubles also stem from the fact that she hasn't worked since concluding her Storm & Grace Tour back in 2014. Her affairs have been managed by Barry Siegel since 1993, when she came into her inheritance through a trust. In 2016, Presley filed for divorce citing irreconcilable differences and claiming Lockwood was a bad father who "took advantage" of her financially.

Earlier this month, the daughter of Elvis Presley revealed she owes unpaid taxes from 2012 to 2015, totalling more than $10 million.

Lisa's former manager filed his own lawsuit against her claiming that her out of uncontrollable spending habits have exhausted her fortune, which was already on the brink of depletion at the time of her father's demise in 1977. LMP says she's $16 million in the hole, and can't afford to pay Lockwood's attorney's fees - but Lockwood ain't buying it.

Presley is supposedly $16 million in debt, an unbelievable figure considering her father left her over $100 million in a trust.

Under Priscilla's watch, the Elvis Presley estate became a booming business with his home, Graceland, becoming a top tourist destination in Memphis, Tennessee.

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