Lisa Marie Presley Accuses Former Business Manager of Squandering Her Father’s Fortune


The daughter of Elvis Presley has accused her former business manager, Barry Siegel, of squandering her late father’s $100 million fortune.

Lisa Marie Presley, 50, has alleged that Siegel lied to her about the health of her finances while making poor investments, including one large investment into American Idol’s holding company, which went bankrupt after the show ended in 2016.

Siegel have countersued Presley for $800,000 in damages, arguing that Presley’s financial problems are from her own exorbitant spending.

Presley’s divorce from musician Michael Lockwood has been difficult for her financially. Lockwood has demanded $40,000 in spousal support. Presley claims to be $16 million in debt, with $10 million of that in the form of owed back taxes.