Broke Lisa Marie Wants $100M From Ex-Manager

Lisa Marie Presley arrives at the

"The 2005 deal she is complaining about now cleared up over $20 million in debts Lisa had incurred and netted her over $40 million cash and a multi-million dollar income stream, most of which she managed to squander in the ensuing years", he added. That's the company that still rakes in millions of dollars every year licensing Elvis's name and image and collecting royalties from his music.

But the entertainment company reportedly went bankrupt in 2006 losing Presley big money.

The court documents read that Presley has "been damaged in an amount that has not yet been fully ascertained, but is believed to be in excess of $100 million".

She also accuses Siegel of "self serving-ambition" and claims that he placed her assets "in risky ventures in hopes of attaining his own celebrity in the entertainment industry".

Last week, it was revealed that Presley is now $16 million in debt amid her ongoing divorce from estranged husband Michael Lockwood.

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Lisa Marie's father, Elvis, is seen in this file photo. "Unfortunately, she now has only herself to blame for her financial and personal misfortunes". Presley said that she was not notified of the Core deal and lost $24.5 million as a result of the bankruptcy.

The statement continued, "My clients' Barry Siegel and Provident Financial Management stuck by her and in return, Lisa Marie stopped paying them and is now blaming them for her uncontrollable spending habits".

According to him, she claimed to be making $104,000 per month in 2016 and that she owed the IRS $1.67 million, which Lockwood says would mean she owes more than she made in income that year. In 2016, Presley filed for divorce citing irreconcilable differences and claiming Lockwood was a bad father who "took advantage" of her financially.

Presley recently claimed in court documents related to her divorce from Michael Lockwood that she was US$16 million in debt, which includes defaulted payments for her US$6-million home in the United Kingdom, as well as over US$10 million in unpaid taxes.

1970 family portrait: Lisa Marie - whose mother is Priscilla - was only nine when "The King" died age 42 in 1977.

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