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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

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121.

Betzaida Mojica    

What shame!I think that Katherine is another interested person on Michael's money.Rightly Michael did not allow his family near him.Although he loved his mother very much, i think he knew that she was interested in his money to support all those big family. Now all will going to live of Michael's money.
Love Michael. RIP.

1384 days ago
122.

Tangerine    

#11 and #14 should BOTH be named ****!

1384 days ago
123.

emerald    

So if the estate is in debt, how come the kids and cousins got to go on a thousands of $$ trip to Hawaii - I thought the estate allegedly paid for that?!
When it comes to the money from the estate, all debtors and claimants have to be cleared before you can access the remaining estate - I read MJ paid his bit of this off seperately and the remainder is Katherine, Joe and Jermaine's debt, so make them pay it and wipe that smug sneer off of Joe's face hm?!

1382 days ago
124.

emerald    

So if the estate is in debt, how come the kids and cousins got to go on a thousands of $$ trip to Hawaii - I thought the estate allegedly paid for that?!
When it comes to the money from the estate, all debtors and claimants have to be cleared before you can access the remaining estate - I read MJ paid his bit of this off seperately and the remainder is Katherine, Joe and Jermaine's debt, so make them pay it and wipe that smug sneer off of Joe's face hm?!

1382 days ago
125.

Deborah    

'Alas,' the egg has broke,I see yolk on all that touches the Michael Jackson NAME... Now what was init for the man himself...SFA! 'Better off dead,'he said. The golden goose has decided to lay his egg elsewhere.Ahhhh, blame it all on the boogie!

1378 days ago
126.

earlline    

I hink the comments are bad and gross. Some of you people do not even deserve to live with some of the filth that comes out of your mounths. May God forgive you all

1361 days ago
127.

Tangerine    

TMZ stay out of the Jackson Family business! YOU are not privy to all their financial situations and so you actually don't know what's REALLY going on either! One thing is FOR SURE tho, the family is NOT broke by a long shot.

1361 days ago
128.

mysteria333    

ANY ONE WHO WOULD TRY TO TAKE MONEY FROM MICHAELS KIDS AND HIS ELDERLY MOTHER,DISGUSTS ME. ONCE AGAIN GREED HAS REARED IT'S UGLY HEAD. IF THIS STORY IS EVEN TRUE, THAN SERGY SHOULD TAKE THE 5 MILLION AND THEN GO AWAY, FAR, FAR, AWAY. MICHAELS CHILD HOOD WAS TAKEN SO HE COULD ENTERTAIN THE MASSES AND HE HAD NO SAY SO IN THE MATTER. AS AN ADULT HE WORKED SO HARD TO HELP OTHERS GIVING STAGGERING AMOUNTS OF MONEY, BUYING EQUIPMENT FOR HOSPITALS, ORPHANAGES, THE POOR, AND THE SICK. HE DID SO MUCH FOR PEOPLE IN THIS WORLD THAT HE IS IN THE GUINESS BOOK OF RECORDS EIGHT TIMES, MORE THAN ANY OTHER ENTERTAINER. NOW WHY ARE'NT SOME OF THESE PEOPLE AND ORGANIZATIONS THERE FOR HIS FAMILY? IT'S THIS KIND OF BEHAVIOR THAT DISCOURAGES MANY FROM GIVING TO OTHERS. I MY SELF HAVE ALWAYS GIVEN TO OTHERS AT THE SACRIFICE OF MY SELF. THEN I RAN INTO HARD TIMES AND NO ONE LIFTED A FINGER, AND THEY KNEW THE TROUBLE I WAS IN. STILL I BELIEVE IT IS BETTER TO CONTINUE TO HELP OTHERS. AND I KNOW I'AM RIGHT. EVERYTHING KATHERINE AND THE CHILDREN HAVE MICHAEL EARNED FOR THEM AND MORE. I HOPE PEOPLE SHOW SOME FORM OF DECENCY AND RESPECT AND STOP TRYING TO GUT THE JACKSON ESTATE.

1359 days ago
129.

shalove    

this is what happens when u don't keep seeking the kingdom first.
Katherine knows in what ways she strayed away from her god, and so we weep what we so. Money will be your servant or your master.

1348 days ago
130.

dominque    

Do what you need to do Katherine and Joe Jackson. MJ estate and future earning should be run by you guys not those thieves, AEG, Randy Phillips, John Blanca, Mclain, Conrad Murray. Those people killed MJ and everyone knows it.

Joe and Katherine do not let those people run mjestate fight for MJ Children, if anything it should be for his children and his family. Not those thieves, biggit thieves.

1341 days ago
131.

ABC123    

I don't believe the Jackson estate is in debt, and is down to nothing. Michael Jackson made tooooooo much money for it all to be paid out on debt and expenses. Even if they do have to pay back creditors, loans, and debts, with his estate still having money coming in since MJ's death, I believe they are still pretty, pretty well off. The entertainment business is extremely shady, but I believe that Katherine, her children, and grand children are doing fine, and will continue to do fine no matter what storms my come their way. God Bless the Jackson family!

1331 days ago
132.

Shelby Stotman    

What does the Old Ugly Mommy need Dough for?

Elvis was a man. Donny Osmond is a man. Michael was a little
Girl. Many 12 year old girls could have beaten him up.
He was Gay (which is okay) and made no effort to Manup!

Shelby Stotman

1321 days ago
133.

Tangerine    

And Shelby, you are STUPID! What does ANYBODY need dough for, you idiot? And why would you want to PUT DOWN someone's mother like that? Awww, shucks, are you hurting because your OWN mommy is old and ugly, or will be, or is dead already? Now, how does THAT feel, to have someone talk about YOUR mother?

And mind you, Michael Jackson was 100% MAN, baby. He fathered 3 children. He married two women. He earned BIG money by WORKING hard. You better WISH you ever could get a REAL man like Michael! He manned-up on a DAILY basis and showed the utmost courage and strength during his extremely difficult and unfair trial. Even Elvis' daughter wanted him back in her bed and in her life because he was ALL MAN to her. He was ALL the man she needed, but she realized it TOO LATE and, like a MAN, Michael wasn't putting up with her wishy-washy ways.

And no, NO 12-year-old GIRL could have beaten him up. As a DANCER, he was VERY physically fit and VERY strong and quick and had well-developed MUSCLES where they counted. He was in TERRIFIC shape, especially for a 50-year old MAN. So what you are saying is all unfounded ignorance and makes you sound like a NUT. Get the heck outta here, you silly twit!

1320 days ago
134.

lynn morales    

TMZ get a life leave the Jacksons along.

1302 days ago
135.

earlline    

I think it is awful how the Jackson family has been treatd. The money after the bills are paid should be the Jackson children, mother and siblings since they all started it together. Most people leave thier families well off and I think that is what Michael would have wanted, although I think they are all okay anyway.

1301 days ago
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