Lisa Marie Presley accuses former business manager of squandering her fortune

Lisa Marie Presley arrives at the

When Siegel's investments - including a $9M English mansion - failed, Lisa Marie claimed he began liquidating her assets to supplement the Trust income.

Lisa Marie Presley claims she's down to just $14,000 after her former business manager mishandled her fortune.

According to the report from the organization, TMZ, Elvis left his daughter a significant sum when he died in 1977, but Barry sold off 85 percent of her interest to Presley Enterprises for $100 million in 2005.

According to documents filed on Wednesday (21Feb18) and obtained by The Blast, Presley claims his "reckless and negligent mismanagement and self serving-ambition" has cost her dearly, adding Spiegel placed her assets in "risky ventures" in the hope of "attaining his own celebrity in the entertainment industry". However, it went bankrupt in 2016, and now, Presley allegedly owes $24.5 million.

The "Nobody Noticed It" singer, 50, is suing Siegel for $100 million because she believes that she has "been damaged in an amount that has not yet been fully ascertained, but is believed to be in excess of $100 million", the docs read.

Siegel told The Blast Thursday: 'It's clear Lisa Marie is going through a hard time in her life and looking to blame others instead of taking responsibility for her actions'.

The legal complaint comes days after Lisa Marie revealed she is more than $16 million (£11.5 million) in debt in her ongoing divorce battle with estranged husband Michael Lockwood. My clients' Barry Siegel and Provident Financial Management stuck by her and in return, Lisa Marie stopped paying them and is now blaming them for her uncontrollable spending habits.

Presley is now in the middle of an ugly divorce from husband Michael Lockwood, whom she married in 2006.

The lawsuits court documents claim Presley squandered her fortune on multiple occasions.

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.

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