Michael Jackson's Trials

Michael Jackson's Trials


The Ongoing Trials of The Late Michael Jackson

Wednesday, November 17, 2004

Debts, Debts and Debts

J. Marc Schaffel, a former producer and business associate of Michael Jackson, is suing Jackson for $3 million in loans and producing fees.

This case was reported on this site some time ago. However, more details have now come to light; as the suit was only filed yesterday.

The lawsuit highlights loans and payments made on Jackson's behalf, it also claims that Jackson did not fully pay Schaffel for his role in producing two television specials.

These specials were aired on Fox last year, and were meant to act as a rebuttal to the "infamous" Martin Bashir interviews.

It seems that Schaffel acts as some form of banker for Jackson; Schaffel claims to have made loans and payments on Jackson's behalf totaling $8.6M since 2001. Only $6.3M of these have been paid back; according to Schaffel.

Some of the payments made on behalf of Jackson, if true, seem a tad extravagant; given Jackson's dwindling financial resources.

$600K for an item of jewelry for Elizabeth Taylor, and $1M to pay Marlon Brando to appear in a video all seem unnecessary.

Seemingly the loans also include $1M for "emergency cash", in the event of a 9/11 disaster; whereby Jackson, and entourage, would have to shelter underground.

Word of advice, if we end up living like rats in the sewers, money will have little value.

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