TMZ

Our TV Shows

Got a Tip?

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

MJ's Mom: They're Takin' Every Penny You Make

7/2/2010 10:00 AM PDT BY TMZ STAFF

Katherine and Joe Jackson are set to make a bundle off of their various Michael Jackson business ventures.  But Katherine and her hubby haven't figured out ... someone is waiting in the wings to take away everything they make.

0701_katherine_howard_EX_01a

TMZ broke the story ... Katherine and Joe owe more than $13 million to a South Korean newspaper -- the Segye Times.  The paper gave Joe, Katherine, and Jermaine a $5.5 million advance for a Jackson family concert series that never got off the ground.  The newspaper sued in 1994, won a $4 mil judgment which has swelled with interest to more than $13 mil.

Edwin Bradley, a lawyer for the Segye Times tells TMZ, his client will go after anything Katherine and Joe make -- and that includes profits from Katherine's book, the movie projects she's producing with Howard Mann (pictured right) -- everything.

Ironically, Katherine's allowance from the MJ estate could be in jeopardy, since she's making money off of her son on the side.  But the allowance could actually be protected from garnishment.

We're told the newspaper will go to court on September 14 to try and wrestle money earmarked for Katherine from the MJ trust.  Sources tell us, however, there is a big fat zero in the trust now, because the estate is in debt.

Bottom line ... Whatever Katherine makes outside the estate will probably end up lining someone else's pocket.

144 COMMENTS

No Avatar
46.

fati    

I don't beleive in anything you TMZ report. You hate this family so much that you create story. 1994!!!So many years without anybody talking about it! please leave that lady alone. she never was involved in her son business.

1473 days ago
47.

Broeheem    

It's all gonna be OK, Katherine... and it's never too late to start smoking crack.

1473 days ago
48.

Sloane    

wonder what they spent the millions from the deal on??
wOuld love to see them have to account for what Tthey did with all the cash

.....and how their income taxes read that year
tax evasion maybe involved too
think the IRS is paying attention to all of the recent money making schemes this family is coming up with???

1473 days ago
49.

billiejean    

wow wishing death on people you people are s*** smh

1473 days ago
50.

Sunshine    

They stole money and they need to pay it back.
Katherine is a hypocrite on one side she is all religious and on the other she is a thief.
MJ was not better that is why he owed so much money.

1473 days ago
51.

Arleen    

#12 after what you said you are a total ****!!! Have some respect for some people. Damn!

1473 days ago
52.

Greg    

This couldn't have happened to a more deserving group of people.

1473 days ago
53.

Puffnstuff    

I feel sorry for this woman. All those vultures will try to prey on the weak. Be strong, Katherine. You are doing right by MJ's kids and may God protect you!

http://www.youtube.com/watch?v=irYTtcFQUBs

1472 days ago
54.

Arleen    

#20....I love it! LMAO!!!!

1472 days ago
55.

Ellis    

If they could get away with it they would dig up MJ's rotting corpse, dress him up in one of his outfits and put him on display for 50 bucks a look. These Jacksons are awful human beings

1472 days ago
56.

Plumeria    

Katherine should give her home videos to one of her children not named in the judgment. Then let that person sign the contracts for the movie. Katherine probably doesn't need the movie profits to live on, she's got her estate allowance. She's either planning on giving the movie profits to Joe or her children, or it's going to be used to fund the Jackson Foundation in Gary. This way she doesn't have to be legally involved.

1472 days ago
57.

Firefly    

Since it was Jermaine that wanted to do the tour, he should be the one that has to pay the money back. Katherine was only doing what Jermaine asked her to do. Which was to talk Michael into doing the tour when he didn't want to.

Pay up Jermaine, you sleazy, lazy, life sucking, user piece of s h i t.

1472 days ago
58.

nita    

THATS OK KATHERINE, PAY OF YOUR DEBT AND YOUR STILL BE GOOD TO GO!

1472 days ago
59.

Em    

I don't know what to think about all this. I looked at her book last night on-line, it's not fit for a "king". It looks slapped together with comments that may be hers in heart but have definitely been altered by the editing. The word "organic" pops up in the foreward and then later on in one of her comments. "Organic"?? And they weren't talking about food. Now we'll be treated to home videos that also will be likely rushed together with a few comments that the family will read of a script. Michael shared home videos with his own commentary years ago - it was well done (and you can see them on YouTube) and funny - he had a wonderful sense of humor throughout his life. Is there more to all of this? Is Katherine being black-mailed or something? Really, at her age, was it her choice to go into business now? And who really is Howard Mann? Another opportunist? I feel for Michael's children - they're being cared for but they will never be able to replace Michael's love and attention. I think Tito's boys are good for them - they genuinely seemed to love their "Uncle Mike" and will provide good support for the kids (I hope). R.I.P. Michael - and watch over Prince, Paris and Blanket - they need your guidance.
P.S. thanks for the comments eric the lawyer, this must be an interesting chain of events for the legal-minded; personally, I think it would be a lawyer's nightmare!

1472 days ago
60.

electriczipper    

P.S. thanks for the comments eric the lawyer, this must be an interesting chain of events for the legal-minded; personally, I think it would be a lawyer's nightmare

ha thats ERIN the lawyer and I'm michael the brain surgeon

1472 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

Around The Web