Michael Jackson’s children may miss out on a US$20 million (HK$156 million) life insurance payout because an aide allowed the policy to lapse.
The King of Pop’s family are planning legal action against the assistant who they reportedly believe kept the cash that had been put aside for insurance.
Dr Steven Hoefflin, the plastic surgeon who became one of Jackson’s closest friends, said that the affair highlighted the “deception and incompetence” of the hangers-on who surrounded the singer in his final days.
“The family have told me that, utterly unbelievably and horrifyingly, one of his aides did not keep up with payments in the last months of his life. They believe he was pocketing the money,” he told The Sun.
“This was hugely important to him – it was money for his children. The family are furious and they are now seeking a lawsuit against the person believed responsible.
“It is incredible, and just stands of further proof of the levels of deception and incompetence of the sharks that surround Michael.”
Because the final payments were missed it is understood that Jackson’s children will now receive around $2.5 million rather than the $22.5 million to which they would have been entitled.
Jackson was around $400 million in debt when he died, having squandered a fortune once estimated at $1 billion.
His children Prince Michael, 12, Paris, 11, and Prince Michael II, 7, commonly known as Blanket, will inherit his $300 million share in The Beatles back catalogue but the rights are mortgaged up to the hilt and the singer is facing a range of legal claims on his estate.
Source : The Sun
