Accountant describes Jackson ‘liquidity crisis’

Jackson was deeply in debt at the time the 2003 documentary aired, with roughly $130 million in assets, as valued at time of purchase, were swamped by $415 million in liabilities, forensic accountant John Duross O’Bryan testified.[…] But Jackson has borrowed against the value of the partnership, and has a $200 million loan from Bank of America due in December 2005, he said. […] Meanwhile, royalties on his music have declined and he was overspending his income by $20 million to $30 million a year, O’Bryan said. […] “There is a liquidity crisis that looms,” he said.

What in the love of God this guy was doing having to borrow so much money? Building a space elevator? He is in the music business making money since he was 4 and he has managed to not have any money left and had to loan?

There are many frigging idiots on this planet, but Jackson probably tops most of them.

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