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Showing posts with label Michael Jackson. Show all posts
Showing posts with label Michael Jackson. Show all posts

Friday, July 20, 2012

JACKPOT... PLOT? Jermaine and Randy Jackson Respond to Allegations...


JACKPOT... PLOT?
Jermaine and Randy Jackson Respond to Allegations...

Am I the only one wondering when will the Jackson saga end?
It is alleged that Jermaine and Randy Jackson, brothers of the "King of Pop" are caught up in some shady dealings in attempt to get at Michael Jackson's money. Sources connected to MJ's Estate, claims the plot involves their mother Katherine Jackson. 

Sources close to the estate said; Randy and Jermaine are seeming that, Katherine is no longer physically and mentally able to control Michael's estate and that those in control are failing to manage it properly.

Further, they believed that Randy and Jermaine are trying to appoint themselves as her Guardian, which would give them access to more than $70,000 a month.

A  letter was signed by siblings Janet, Randy, Tito, Reebie ad Jermaine, demanding that the Executors of the MJ Estate step down, claiming the executors are failing to manage the estate, causing Katherine to suffer a stroke. (Folks close to Katherine claims, there was no stroke) 

They believe Randy and Jermaine are low on cash and know when Katherine dies, all of MJ's money will go to charity and in trust for Michael's kids.

After the story broke, a statement was released by Jermaine Jackson, through a representative, saying:
"I note that this 'story' comes from 'sources close to the Estate'. It, therefore, does not surprise me that such a wildly false claim is being invented, presumably to deflect attention away from this family's very real concerns about the Estate."  
"This claim is as far-fetched as it is untrue, but such are the anti-Jackson falsehoods we have come to expect from 'sources close to the Estate.'"
"I will reiterate that this family's first and foremost concern is our mother's health, welfare and well-being. Nothing else."



If you remember my story a few weeks ago; it stated that the Jackson's estate was booming and able to cut MJ's debt down significantly.  Wow! sounds like great management to me!? #2 why did the other siblings sign the letter?

What I do get from all of this is there is definitely trouble in the Jackson camp and it is over his estate... Who's telling the truth? Only time will tell.  

Friday, July 13, 2012

Michael Jackson Estate Clears MJ's Massive Debt...


Michael Jackson Estate Clears MJ's Massive Debt... Well Almost!

Michael Jackson's estate has made a fortune since the singer's death... so much in fact ... it's nearly paid off $500 million in debt the King of Pop left behind when he died. WOW!

Executors for the Estate filed legal docs which show the Estate has generated gross earnings exceeding $475 million as of the end of May. 

According to the docs, all of MJ's debts have been paid, with the exception of a BIG debt involving Michael's publishing catalog ... and executors expect that will be fully paid off by the end of the year.

It's not only good news for the Estate ... it's great news for the small army of lawyers who have been handling all the legal and business affairs.  Their fees -- from May, 2010 through November, 2011 -- exceeded $13.6 MILLION!

Two other things ... Katherine is asking for an additional $34,700 a month to pay for lawyers and accountants, and another $205,041 to cover lawyer and accountant fees from 2011.

Final thing... There are still some unresolved creditors' claims and several lawsuits to clear up.

All in all ... not a bad turnaround. I'll say!
Singing really pays off! Can you sing?