Lisa Marie Presley appears to have turned on her mother, Priscilla Presley, as she brought forth a witness who claims that Priscilla conspired with Lisa’s ex-manager, Barry Siegel, to steal her inheritance.
Radar Online has reported that Lisa has recruited her stepfather Marco Garibaldi to testify he was in the room when Priscilla and Barry plotted to sell Elvis Presley Enterprises in 2005, which was the entity from which Lisa drew her money.
“This particular day, Mr. Siegel informed Priscilla that Lisa Marie was spending too much money, and there was nothing left. Meaning, both he (Barry Siegel) and Miss Presley were running the risk of having no income from Elvis Presley Enterprises,” Garibaldi said, according to documents obtained by Radar Online.
The paperwork revealed that the two decided the solution to the problem was to simply sell Elvis Presley Enterprises, with Siegel receiving at least $500,000 a year and Priscilla keeping her $1 million a year.
“At that point I left the meeting. I didn’t mind helping her over the years, but conspiracy to hurt her own daughter utterly crossed all moral boundaries known to me,” Garibaldi reportedly said, according to the documents.
In 2005, 85 percent of the stakes in Elvis Presley Enterprises was sold, leaving Lisa with the remaining 15 percent, which she is claiming Siegel squandered in a lawsuit. Garibaldi said Priscilla made $13 million from the sale of the entity.
Siegel served as Lisa’s business manager until she fired him in 2016. In 2018, she filed a lawsuit against him, claiming she lost $100 million because of his mismanagement. The suit also claimed a breach of fiduciary duty, fraud, negligent misrepresentation, and unjust enrichment and accounting.
Garibaldi was Priscilla’s partner for 21 years. Together, they have a son, Navarone. The two were never legally married but Garibaldi reportedly sees Lisa as his stepdaughter. His relationship with Priscilla ended in 2006.
Last year, Lisa claimed she was $16 million in debt, according to court documents related to her divorce from her fourth husband, Michael Lockwood, Us Weekly reported. The two were married for 10 years and share two children, Riley, 28, and Benjamin, 25.
Lisa, who has two other children, reportedly owed more than $10 million in taxes from 2012 to 2017 and defaulted on the debt of her $6 million home in the U.K. She also owed $263,050 in professional fees, $47,844 in credit card debt and $250,000 in miscellaneous unpaid bills.
Lisa receives a payment from her father’s home, Graceland, from which she holds an interest, per Radar Online.