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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 ...

441 COMMENTS

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91.

Sidney    

Someone asked about Ian Halpern, so I'll share what I have learned. Based on a review I read, he gave away most of his plot when he promoted the book on ET and there is nothing else which hasn't been widely reported. Supposedly, he went undercover as a hairdresser/former model and he implied that MJ came on to him. Considering he looks very much like Andrew Dice Clay, my inclination is that both were a product of fantasy. Nothing he discussed is verifiable (e.g., no names, pictures that were shown to him but not published) and his sources were less than objective (e.g., employees who had been fired, Diane Dimond). It was described as covering only the past 15 years (with considerable space devoted to the first allegation of molestation and the trial), containing a lot of typos and redundancy, and comparable to reading long excerpts from magazine articles. I really hope no one buys it, if just for the fact it sounds to have poorly edited in the rush to hit the stands.

1880 days ago
92.

wondering    

pen, are you serious? he said he was a former model? omg bwahhahaah!

1880 days ago
93.

dee    

The kids need someone to financially protect them from Katherine and Joe like a Guardian ad Litem. Let Katherine live on her social security like the rest of us.

1880 days ago
94.

Sidney    

I hope what Dr. Hoefflin reported is untrue, primarily because that would be traumatic for an adult and one can only imagine how traumatic for a middle schooler looking at his own father. If it is true, I wish they could charge Murray for child abuse.

1880 days ago
95.

LakersFan    

MORE ON OMER BHATTI MJ'S POSSIBLE SON

Michael Jackson’s alleged secret son, Omer Bhatti, has long been recognized by Jackson family insiders, who have known about him since 1992 when he began to live at the Neverland Ranch, MSNBC reports.

“One day at the (Neverland) ranch, Michael’s nephew Austin, (Jackson’s sister) Rebbie’s son, told his mom he just met a kid who called himself Michael J, but his name was Omer, and he was saying that Uncle Michael was his father," a family friend said. "This was news to Rebbie, and she turned around and called (Jackson’s mother) Katherine, who had no knowledge of it either."

It would seem that the Jacksons have made no attempt to conceal or promote Bhatti's existence. For instance, he sat in the front row with the entire Jackson family at the memorial service for the deceased singer. “The family has been wondering how long it would take for this to get out," says the source.

The real questions are still unanswered. Much like with Jackson's other children, there is public doubt as to whether Bhatti is his biological child. Despite that, the Jackson family has accepted him for 17 years as one of their own.

“He looked so much like Michael, especially when he was younger. We have every reason to believe it’s his son,” stated a family insider who knows Bhatti personally. As for the identity of Bhatti's mother, insider sources claim that the only information known to the Jackson family is that actress Elizabeth Taylor introduced Michael to her.

“The one woman who knows everything there is to know about Michael Jackson and where his children came from is Elizabeth Taylor,” a longtime family friend affirmed.

Now, it is a stretch, but as a Hollywood actress, Taylor probably introduced Michael to many a beauty queen from the movie scene. Could it be that Omer's mother is...Billie Jean?!?

1880 days ago
96.

Kris    

This will only spur on more death hoax theories...

1880 days ago
97.

LakersFan    

102. I hope what Dr. Hoefflin reported is untrue, primarily because that would be traumatic for an adult and one can only imagine how traumatic for a middle schooler looking at his own father. If it is true, I wish they could charge Murray for child abuse.

Posted at 8:34PM on Jul 24th 2009 by Aly
***********
Right. If this is true its devastating news. I know I would be traumatized as a child and an adult. Only good thing is Prince could possibly testify exactly what Murray was doing to Michael at least for that time period when he decided to begin CPR way after the fact Michael was probably already dead. If this is true I'm sure Prince has already been questioned by police.

1880 days ago
98.

dee    

From what I've seen, Debbie Rowe has lived a peaceful and modest life out of the limelight. She has obviously managed her finances well, no matter where her money came from. the kids need to be with her and out of this circus.

1880 days ago
99.

Texasgirl    

Gee it's too bad that Jacko's kids got to see him as a drug addict their whole lives. You people have some messed up priorities.

1880 days ago
100.

Mary    

#'s94 & 98: Thank you for your comments - I sure hope no one believes this idiot! :-(

1880 days ago
101.

Mary    

#95: Do not include me with your comment as I DO CARE about MJ. You need to correct the "we" in your sentence to "I." There are 300 million people in this country, so you'd better narrow it down a little. LOL

1880 days ago
102.

Oldwalk    

FOR ALL YOU MJ HATERS................

I'M MAY BE DEAD, BUT I'M STILL RICH BIATCH!!!!!!!!!!!!!

1880 days ago
103.

susan    

Anyone giving MJ any credit for having a good will, doesn't know how they are done. The will is a good one because it was done while Branca was on board with him. The guy is the best in the business, He will take that estate and make a billion dollars. He's the best in the business. Branca was with him from 1984 to 1990 then MJ let him go and begged him to come back in 1993. Branca quit in 2006 because Jackson was such a mess, The best last decision MJ ever did was talking Branca into coming back and never taking him off his will as an executor. If one of those whacko Nation of Islam or others he surrounded himself with there during those last couple of years were executors, the estate would have been run into the ground.

1880 days ago
104.

HumanNature    

109. FOR ALL YOU MJ HATERS................

I'M MAY BE DEAD, BUT I'M STILL RICH BIATCH!!!!!!!!!!!!!

Posted at 8:53PM on Jul 24th 2009 by Bite my A$$
+++++++++++++++++++++++++++++++++++++++++

YOU MADE MY DAY!!!!! BEAUTIFULLY WRITTEN!!!!!! LOL AT ALL OF MJ HATERS!!!!!!!!!

1880 days ago
105.

Deb    

txgurl - yeah, what Mary said!!!!!

There are other stories on TMZ, maybe you can find one more to your liking and join the forum there. If not, there are other gossip sites. No one is FORCING you to come in here. If you are truly sick of the MJ coverage I'd think this forum would be the last place you'd want to be.

1880 days ago
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