TUESDAY’S ACTION
A financial expert testified that Jackson’s deteriorating finances had left him deeply in debt in 2003, just as he faced an avalanche of bad publicity from a documentary.
BY THE NUMBERS: Accountant John Duross O’Bryan estimated Jackson’s annual expenses included:
– $5 million for lawyers and professional services
– $5 million for ranch security and maintenance
– $7.5 million for personal expenses
– $2.5 million for other costs, largely insurance
– $11 million in interest on the loans secured by Jackson’s music catalogs.
EASY FIX?: Jackson attorney Thomas Mesereau suggested O’Bryan had not considered lucrative offers available to the entertainer.
“Wouldn’t it be relevant if you knew Mr. Jackson could accept one opportunity and solve [his liquidity problem] in a day,” Mesereau asked.
“If it could be solved, why wasn’t it?” the accountant replied.
