EXCLUSIVE DOCUMENTS: Michael Jackson's Bankrupt Doctor Claims Business Manager Depleted His Funds By $3.2 Million
Posted on Apr 06, 2011 @ 02:18PM
Michael Jackson’s former dermatologist, Arnold Klein, claims that an ex-business manager embezzled nearly $3.2 million from his bank account, leaving him bankrupt.
In new court documents exclusively obtained by RadarOnline.com, the doctor claims that “significant assets were transferred without my knowledge or consent.”
EXCLUSIVE DOCUMENTS: Dr Arnold Klein Sues Former Business Manager
“Specifically, from 2008 through the end of 2010, my account at the Bank was depleted without my consent or knowledge from approximately $3.2 million to its current balance of approximately $400,” Klein said in the documents filed in California on April 4.
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“I intend to pursue claims against those responsible for the illegal depletion of my account at the Bank.”
The 46-year-old asked that he get access “to any and all information and documentation in the Bank’s possession which support or are relevant” to his claims that funds were taken out by unnamed third parties.
As RadarOnline.com first reported, Klein filed for bankruptcy in January but it was revealed that he’s worth about $7,563,600 in assets.
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According to court documents, Klein's Los Angeles home – which was gutted by fire in November 2010 – is worth $9 million and holds $20,000 worth of gym equipment. The home was also said to be in default in October 2010, and Klein lost $1.5 million in artwork, furniture, and other items in the fire, which was covered by insurance.
Despite the doctor’s stated income of $30,000 per month and claims of his money being embezzled from him, he has acquired a great deal of debt.
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Klein owes almost $3 million to City National Bank, $100,000 to the drug company Allergen, $157,000 to the IRS, $80,000 to American Express ananother $80,000 to Bank of America.
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The Daily Juice
Had to pay for sex?
Posted Thu, 04/07/2011 - 12:17am
I find it hard to believe that he would go 2 years without checking his bank statement. Especially for an account with a $3 million balance.
Posted Wed, 04/06/2011 - 9:11pm