Lisa Marie Presley sued her former manager over a failed investment.
In 2005, the manager sold 85 percent of Presley's interest in Elvis Presley Enterprises for $100 million. He then invested the money into Core Entertainment, which went bankrupt in 2016. According to her lawsuit, Presley lost $24.5 million as a result.
Five months later, the former manager sued Presley for $800,000 that he alleges she owes him for unpaid work.
Presley claims to be $16 million in debt, and she owes $10 million in unpaid taxes. The manager alleges that Presley's spending, not his mismanagement of her funds, caused her current financial troubles.
Presley terminated the manager in 2016. Emily Marcus "Lisa Marie Presley Sued by Former Manager for $800,000" usmagazine.com (Jul. 24, 2018).