Judge Orders Accounting Report From Former Presley Business Manager

posted by City News Service - 

LOS ANGELES (CNS) - Lisa Marie Presley won what her lawyer called a ``significant victory” in court today when a Los Angeles judge ordered her former business manager, who she accuses of squandering much of her family fortune, to file an accounting of his expenses with the court.

Superior Court Judge Robert Wada told lawyers for Barry Siegel that the accounting must cover the period of January 2004 until the end of February 2016 and should be filed by Nov. 29. He set another hearing for Dec. 17.

Presley's lawyer, Amjad Khan, told the judge that an accounting is ``pretty much what this case is all about.”

After the hearing, Khan said, ``This is a significant victory for Lisa Marie Presley.”

The accounting must include expenses Siegel charged as Presley's business manager and his reasons for using funds taken from the Promenade Trust that was originally formed by her father, Elvis Presley, Khan said. Siegel was the trustee of the Promenade Trust, Khan said.

Attorney Leon Gladstone, on behalf of Siegel, told the judge the accounting will take time because thousands of documents are involved.

Presley, 50, alleges her $100 million fortune was pared to five figures because Siegel acted in his own best interests in making business decisions.

On July 23, Siegel countersued Presley, saying she owes him $800,000 in additional fees.

Presley, a singer-songwriter, is the only child of Elvis and Priscilla Presley. She also is the sole heir to her father's estate.

Photo: Getty Images

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