Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

New Jackson Docs -- Millions Recovered

7/24/2009 6:50 PM PDT BY TMZ STAFF

Michael JacksonWe've now obtained documents filed yesterday in the Michael Jackson probate case.

The Special Administrators have recovered $5.5 million in cash from a former financial advisor. The documents do not name the advisor.

In the documents, the administrators predict Jackson has enough cash to pay off his estimated $400 million in debts -- and still have money left over for his heirs.

The docs also say Jackson's children are the beneficiaries of an insurance trust established by Michael Jackson. The proceeds have not yet been collected, which explains why lawyers for Katherine Jackson have asked for a temporary allowance.

The Special Administrators expect to generate tens of millions of dollars of revenue from various business deals that are now in the works.

Story developing ...


No Avatar

Previous 15 Comments | 21 | 22 | 23 | 24 | 25 | 26 | 27

PO'd in SJ    

If anyone has really been paying attention, the reason Michael's advisor was holding $5 million dollars in cash for Michael is because he was planning on purchasing a mansion in Las Vegas where he was in the process of planning on residing (permanently) with his 3 children. He was looking forward to performing in Las Vegas and settling in there for the duration of his career because he was tired of doing concerts and having to travel back and forth in and out of the country with his kids. They showed the mansion last night on T.V. It was beautiful and he had planned on calling it, "Wonderland!" There were secret rooms in this place also. Michael had just recently spoken to Celine Dione and had apparently made the decision to settle in Las Vegas. He was definitely planning on starting a whole new life in Las Vegas.

I do believe that Michael was trying to revive his career and move on with his life after the molestation charges. The unfortunate part is that he so willingly trusted the wrong people. The people around Michael DID NOT care about his well being. It was all about money. Dr. Conrad Murray, as a educated, trained, cardiologist, is really to blame for Michael's premature demise. As a Dr., he should have refused to cater to Michael's demands for Dirprivan or any other medication. Just the mere fact that Michael offered to pay this man $150,000,000.00/mo, was clearly about money. Although Michael bares some responsibility for his death, the man is a practicing Dr. who by Code of Ethics, should know better and with this, there should be revocation of his licencse to practice for good! I would not let him treat my dog!!! And I don't even have a dog! His only concern was that he would be attached to Michael Jackson along with a very hefty paycheck attached. How sad of an individual he is. He will now have to live with whatever his actions were that may have caused our POP STARS death and believe me...there are many others who are just as much to blame for his early departure from this life. I say find them all and fry them!!! Revoke their license and put them completely out of business. None of them should ever be able to practice medicine any state! I LOVE YOU AND MISS YOU, MICHAEL!

1882 days ago
Previous 15 Comments | 21 | 22 | 23 | 24 | 25 | 26 | 27

Around The Web