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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
76.

Mimi    

47
They are lying about those white kids being his. They deserve everything they get.

Posted at 6:20 AM on Jul 2, 2010 by annie


@ annie
How do you explain the fact that Prince (Michael's first son) has Vitiligo??? hummmmm Do you think they just went to a sperm bank and asked for sperm that contained the dna/gene for 'Vitiligo'?

1485 days ago
77.

Mimi    

#86
Michael can be heard in a telephone conversation on you tube a few years back complaining that his father was asking him for a half million dollars.....trying to make him feel guilty by telling him that if it wasn't for him Michael wouldn't be who he is today.

I would've avoided my family too.

I like some of the Jackson brothers....but wow...people can be such jealous conniver's.

Posted at 10:36 AM on Jul 2, 2010 by Cecilia


@ Cecilia, you are correct the taped phone cons are called the 'Glenda tapes'

http://www.youtube.com/watch?v=pdUZa6YLj3Y

listen and learn.

1485 days ago
78.

nan    

michael was a very pure person. maybe some people cant believe that a person with that wealth and fame would be a kind hearted person becasue they wouldnt be , but he was the real deal.
he was a trusting person and a huge target.
if anyone reads the testimony and cross examination by mr tom mesereau of atty feldman on april 1 2005 you will find that it not only vindicates him of the 2005 garbage but also the 93 issues.
it is mapped out so even a six year old can follow how michael was set up by unscrupulous lawyers and a few greedy families...
fourteen bull**** counts ,,innocent on all of them
rest in peace and harmony michael

1485 days ago
79.

mj fan forever    

If she owes the money than pay up. this really saddens me to see this. His mom of all people that he trusted making money off of his name. But I don't know.


rip mj

Posted at 5:00 AM on Jul 2, 2010 by kim

I agree.

1485 days ago
80.

Mimi    


MJ Commit Suicide Because He Couldn't Live With The
Guilt Of What He Did To All Thoses Little Boys. <~~~~~~ Thoses??

Posted at 5:52 AM on Jul 2, 2010 by OhWell

OhWell?

 <~~~~~~~~ remember what that is????

You are so anxious to throw your comments around your fingers can't spell correctly

1485 days ago
82.

Alice(from Romania)    

Posted at 10:35 AM on Jul 2, 2010 by Phantom of the Opera

Thank you :)

1485 days ago
83.

Steve     

Had Jermaine, Katherine and Joe asked Michael first to do the reunion concrt, he would have said no. Jermaine was so money hungry he told the concert promoters the J5 would perform with Michael.

The Jacksons owe the 5.5 million they accepted and should pay that back.

1485 days ago
84.

Mimi    

Posted at 10:56 AM on Jul 2, 2010 by Phantom of the Opera

Thank you Phantom, it's always nice to see you here and your YouTube posts are always welcome.

Michael Jackson Meets the Angels

1485 days ago
85.

Marie    

Why is Katherine Jackson making all of these business deals with shady people and exploiting the legacy of her late son Michael without the approval of the estate? She is not a smart business woman. She should follow Pricsilla Presley's example. Pricsilla is working only with the estate of Elvis Presley and she is rich now and not in debt.

1485 days ago
86.

neither of these two sluts    

iT CAN ONLY BE DISMISSED IN BANKRUPTCY IF THE THE PERSON HOLDING THE LIEN AGREES TO IT...SEEMS LIKE THEY WERE JUST WAITING FOR THIS WRINKLED COW AND HER OBNOXIOUS IDIOT HUSBAND TO COME INTO MONEY THEN GRAB IT FROM THEM....I SAY GO FOR THE WHOLE ENCHILADA...KATHERINE IS JUST A PLAIN GREEDY OLD HAG AND HER WANNA BE PIMP HUSBAND IS HER PIMPLE ON HER FAT AZZ!

1485 days ago
87.

Alice(from Romania)    

"Cause I been there before and you've been there before, But together we can be alright.
Cause when it gets dark and when it gets cold we hold Each other till we see the sunlight.
So if you just hold my hand, baby, I promise that I'll do all I can
Things will get better if you just hold my hand
Nothing can come between us if you just hold, hold my, hold, hold my, hoold my hand, hold my hand."
http://www.youtube.com/watch?v=WdyodSk7fHk
L.O.V.E and Miss MJ

1485 days ago
88.

Tellit    

Joe & Kattie..I hope they get all you've gotten/getting...and then some.

1485 days ago
89.

JB    

I don't understand why TMZ have not deleted #12 comments and band this person from posting here. This is offensive and should not be allowed not even on TMZ board! This is lower then low for TMZ to allow this type of offensive language to be used here.

1485 days ago
90.

Are you sure?    

It's a Jackson family tradition to sign contracts to do things and then just flake out! Michael used to do it every week. He didn't pay his bills and spent all of his money fending off lawsuits! Thank god some one is handling Michaels estate other wise they would burn through it in two seconds!!

1485 days ago
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