MJ Estate Third Accounting - Document & Summary & Discussion

Well guys I think by now we all realized that Katherine's allowance is used for her to support others. No way is she spending all that on herself when the estate pays the daily living expenses. The estate knows that also and I guess have decided to just give her the money and let her do what she has been doing all along. The estate may think giving the family money through Katherine will keep her sons quiet. They even give Jackie a job with a big salary. Every Jackson connected to the estate gets big salaries including Taj.

Anyone knows who referred that attorney to Katherine.
 
Well guys I think by now we all realized that Katherine's allowance is used for her to support others. No way is she spending all that on herself when the estate pays the daily living expenses. The estate knows that also and I guess have decided to just give her the money and let her do what she has been doing all along. The estate may think giving the family money through Katherine will keep her sons quiet. They even give Jackie a job with a big salary. Every Jackson connected to the estate gets big salaries including Taj.

Anyone knows who referred that attorney to Katherine.

Do you mean Perry Saunders, the lawyer who was given $2.5 million in this accounting, and was introduced and recommended to KJ no other than mother of the all the crooks Howard Mann (Randy has his fingers in this soup).
More info here:http://mjandjustice4some.blogspot.ie/2012/10/sanders-sullivan-mann-and-randy-jackson.html
 
Re Perry Sanders--Randall Sullivan claims he introduced KJ to him. It's in his book.
 
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Question: First post by Ivy states that Estate paid 22M in interest on loans--was that in total since 2009 or just in 2012? Hope it was since 2009. 22M is a huge pile of $ when the Estate earned 60M net in 2012.

"Estate has paid $22,150,000 on loan principal payments."
 
Question: First post by Ivy states that Estate paid 22M in interest on loans--was that in total since 2009 or just in 2012? Hope it was since 2009. 22M is a huge pile of $ when the Estate earned 60M net in 2012.

"Estate has paid $22,150,000 on loan principal payments."

That's just in 2012.

Loan Principal payments are

First accounting - $14,989,415
Second accounting- $34,040,875
Third accounting - $22,150,000

for a total of $71,180,290 between June 2009 and December 2012.
 
When Prince and Blanket wear the same clothes for months; same t-shirts , shoes, pants...etc .Not to mention Blanket's teeth . You can't but wonder where the hell did $ 3 + millions go . Not on fancy clothes for sure

If it's not a loan , it's a "consultancy fee". Obviously for the second year in row her allowance is higher than the three kids combined, if we assume of course she spend their allowance on them.

No wonder Jermaine rides a Ferrari.

Ever since Michael died, she has been living it up more than before, begging for money, demanding money, scheming for money, paying up her 'elderly' card, even though she doesn't have two s***'s to give about anything else but filling up her pockets as long as she can.
A huge financial burden will be lifted when she passes, and you will see those Jackson's throwing around outrageous claims again when that day comes.
 
Both Katherines and the children's allowance is going up as it should be. The amount isn't computed based by fans personal feelings about her. Katherine doesn't drive and neither did MJ the most part that doesn't mean they shouldn't have cars for their transportation. That seem kind of nit picky to me. Michael wanted his mom well taken care of to live her life out very very comfortable. Not sure why some don't get that. I don't think he placed any restriction on how she should spend her money. Certainly not based on our opinions of how it should be spent.
 
Both Katherines and the children's allowance is going up as it should be. The amount isn't computed based by fans personal feelings about her. Katherine doesn't drive and neither did MJ the most part that doesn't mean they shouldn't have cars for their transportation. That seem kind of nit picky to me. Michael wanted his mom well taken care of to live her life out very very comfortable. Not sure why some don't get that. I don't think he placed any restriction on how she should spend her money. Certainly not based on our opinions of how it should be spent.

Yes he did place a restriction, he did NOT want to take care of the rest of the 1000 people Katherine gave birth to, yet the minute he dies she turns around spending millions of dollars, MICHAEL'S DOLLARS on her useless 'cubs'.
Seemingly that's not enough though because she keeps on demanding more, scheming, and begging for donations from his fans. She is straight up disrespecting his wishes, as she has been since he died, I don't know about you but I'd think if I had a dead son who took care of me financially in life and death, gave me all the luxury in the world I'd try my best to do right by his memory and try to follow his wishes, and not disrespect them so blatantly.

Coming up with excuses for her actions and behavior at this point is down right comical.
 
Michael did not place any restrictions on what she should do with HER Money. You are the one wanting restrictions. There is none. I certainly haven't made any excuses for her actions or condoned her actions or assumed what she is doing with the money, beyond what is reported. I do have opinions about it though, but I'm not here to place public insults or judgments on Michael's mother. We are all welcome to have an opinions as long as we don't insult or attack each other and follow the rules of how to respectfully address our opinions.
 
In his well he clearly instructed the executors to finance business, cars & houses purchases .....etc for his kids . However, when it came to Katherine he instructed them to only take care of her well being.

If he wanted them to buy her cars and give her millions beyond her needs he would have stated that. The fact he detailed what his kids can get to buy but nothing of that sort when talking about Katherine is strong indications of his intentions.

MJ had the chance to pay her debts, he never did . MJ had the chance to clearly instruct his estate to take care of his siblings, but he did not. He did not even do what Elvis did, instructions to pay medical emergencies to extended family. He did not want to support them, period.

Paris could have killed her, but none of those swimming in MJ's billions had the decency to raise any questions.
They are buying their peace of mind using the kids money.
 
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That's just in 2012.

Loan Principal payments are

First accounting - $14,989,415
Second accounting- $34,040,875
Third accounting - $22,150,000

for a total of $71,180,290 between June 2009 and December 2012.

Thanks, Ivy. I see I was mistaken in that these are principal payments, not interest payments. Glad the Estate is attacking the principal--this is really their goal, I would think--to pay off the debts and it looks like that's is what they are doing--$71M down and several hundred M more to go.
 
Michael did not place any restrictions on what she should do with HER Money. You are the one wanting restrictions. There is none. I certainly haven't made any excuses for her actions or condoned her actions or assumed what she is doing with the money, beyond what is reported. I do have opinions about it though, but I'm not here to place public insults or judgments on Michael's mother. We are all welcome to have an opinions as long as we don't insult or attack each other and follow the rules of how to respectfully address our opinions.

The issue is not what she's doing with "her" money but how much is being given to her.

in a space of one year her allowance has literally tripled from approx $480,000 to approx $1,336,000.

you can't deny that she's receiving an exorbitant amount of money that is way beyond her needs, care and comfort specially when you factor in the daily expenses (Bodyguards, food, utilities, gas, vacations) that the Estate is already handling.

Then there is the bizarre consulting fee of $2,500,000. This must be one heck of a consulting specially from a woman who barely knew MJ and his affairs. I don't know whether this is a recurring annual fee. meaning is KJ supposed to be paid an additional $2,500,000 every year until she dies? I guess we will find out next year when the fourth accounting is made available.

Either way, it's clear that the executors are grossly overpaying KJ.

From KJ perspective, the goal is obviously to drain the Estate as fast as possible before she eventually dies since the estate will be in probate for some time- the executors still have to pay large amounts of debt including the scary tax bill.

From the executors perspective, they were facing an ambush by KJ and her henchmen who were raising damaging controversies about MJ, with the potential of hurting MJ image and his commercial appeal. so they had to give in at some point at least for the sake of shielding MJ from further controversies.
 
I see speculation and rumors here about Estates motives for paying her, based on your own imagination. but not any facts. Of course we are welcome to speculate. but that doesn't make it true. I also see a lot of rumors on the other end of the fan base. Based on rumors and speculation.. but with a different twist. How about we stick to facts we know and not go there.

ETA
From KJ perspective, the goal is obviously to drain the Estate as fast as possible before she eventually dies since the estate will be in probate for some time- the executors still have to pay large amounts of debt including the scary tax bill.

From the executors perspective, they were facing an ambush by KJ and her henchmen who were raising damaging controversies about MJ, with the potential of hurting MJ image and his commercial appeal. so they had to give in at some point at least for the sake of shielding MJ from further controversies.
Passy you can't state as fact what Katherine or the Estates perspective is. We don't know Katherines goal or the Estates Motives are for paying her. All we can do is speculating, but you posted that as a statement of fact.. Would be better to say IMO or I believe etc. Of course we are welcome to speculate. but that doesn't make it true. Its just a possibility.

I personally dont believe the Estate is paying the Jackson's off. I don't think they are afraid of the Jackson's.
 
I see speculation and rumors here about Estates motives for paying her, based on your own imagination. but not any facts. Of course we are welcome to speculate. but that doesn't make it true. I also see a lot of rumors on the other end of the fan base. Based on rumors and speculation.. but with a different twist. How about we stick to facts we know and not go there.

I guess the will is fake is also my own imagination, including writing bizarre letters to overthrow the executors and accusing them of all sort of wrong doing.
 
^^ I agree those are facts, not speculation. But I don't think Katherine was aware of that letter. That is why she was taken out of the way when it was released. Im also not condoning all the things Katherine has done either. Some of the things she has said or done, really disturbs me. But I just may have a different perspective of why she does them is all.
 
^^ I agree those are facts, not speculation. But I don't think Katherine was aware of that letter. That is why she was taken out of the way when it was released. Im also not condoning all the things Katherine has done either. Some of the things she has said or done, really disturbs me. But I just may have a different perspective of why she does them is all.

Now you are speculating. you can't prove that KJ was not aware of those letters and other public attacks of the executors.

Remember KJ cannot contest the will or she will lose her claim to the estate, according to instructions of the will. so she had her henchmen (e.g Howard Mann) and even her unemployed children doing the dirty work for her.

The point is public allegations of the will being fake and other public efforts to overthrow the executors were clearly negotiation tactics used to achieve one goal ONLY: To increase KJ income from the Estate.
 
I see speculation and rumors here about Estates motives for paying her, based on your own imagination. but not any facts. Of course we are welcome to speculate. but that doesn't make it true. I also see a lot of rumors on the other end of the fan base. Based on rumors and speculation.. but with a different twist. How about we stick to facts we know and not go there.

ETA

Passy you can't state as fact what Katherine or the Estates perspective is. We don't know Katherines goal or the Estates Motives are for paying her. All we can do is speculating, but you posted that as a statement of fact.. Would be better to say IMO or I believe etc. Of course we are welcome to speculate. but that doesn't make it true. Its just a possibility.

it does not take a genius to figure this out considering all the developments in the past 5 years. of course you are welcome to disagree. otherwise what's the point of having a discussion.


I personally dont believe the Estate is paying the Jackson's off. I don't think they are afraid of the Jackson's.


The jacksons are leveraging KJ stake in the estate to squeeze more money out of the Estate. as long as KJ has a stake in the Estate they will continue to do so.
 
Perry Saunders is doing well for himself! The $6k per month consultancy to Jackie, is that for Cirque?

I don't think Jackie's payment is for Cirque, he doesn't have expertise on Cirque kind of show, and Immortal opened 2011, and that payment to Jackie is for 2012, so the only thing I can think of is that he is assisting McClain with new music releases or something involving music.

I was wondering that consulting fee. It is just too bizarre amount of money to pay KJ for consulting!
Could it be that it is for Saunders for consulting KJ in the estate matters etc? I didn't see any amount of money allocated to Ribeira or Saunders in this accounting, whereas 2nd accounting KJ took a loan from the estate to pay her own lawyers, so have they cooked up some sort of roundabout how KJ can avoid paying her lawyers and at the end the estate is paying for it?

Then again by comparison AEG lawyers were asking $1.2 million fees after KJ lost the case so must be lot of consultations going on.

Btw, that consulting is more than executors got paid the whole year and at least we can see the results of their work!
----------------------------------------------------

Does anyone know what is that Neverland Replacement Statuary - Lapointe $40,000.00
Is it related to this: http://www.contactmusic.com/news/co...state-over-memorabilia-treasure-trove_1208533
 
Now you are speculating. you can't prove that KJ was not aware of those letters and other public attacks of the executors. .
Yes of course i was speculating and I made it evident by saying "But I don't think Katherine was aware of that letter" I didn't post it as statement of fact . I try to state IMO or I think or I believe for the most part. I also don't mind being respectfully called out when I post an error either. It doesn't bother me if I am proven wrong by factual information. I don't have to be right or know it all. I dont ..
 
I personally dont believe the Estate is paying the Jackson's off. I don't think they are afraid of the Jackson's.

I don't think anyone here meant that executors are afraid of Jackson's, more like they bending over backwards to keep KJ quiet. Certainly you haven't forgotten that when the estate was going to sell Havenhurst, KJ went to tabloids crying how unfair they are and she didn't want to sell it, despite she doesn't want to live there.
So to avoid more crying in tabloids, the estate withdrew the sale of Havenhurst. There have been many occasions when KJ gives an interview to tabloids and accuses executors from this and that, and to be honest, an old woman crying on tabloids or telly makes executors look rather cold hearted, so they accommodate a lot from her.
She knows how to play this game.

Katherine doesn't drive and neither did MJ the most part that doesn't mean they shouldn't have cars for their transportation. That seem kind of nit picky to me. Michael wanted his mom well taken care of to live her life out very very comfortable. Not sure why some don't get that. I don't think he placed any restriction on how she should spend her money. Certainly not based on our opinions of how it should be spent.

I assume this car thingy was directed at me as I brought it up earlier in relation to KJ and Joe's bankruptcy. It was just a statement that having 3 car for 2 people is silly especially when 1 of the doesn't drive, and cannot even afford to pay them. That is what I think is reckless spending that they still practice today.
 
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When Prince and Blanket wear the same clothes for months; same t-shirts , shoes, pants...etc .Not to mention Blanket's teeth . You can't but wonder where the hell did $ 3 + millions go . Not on fancy clothes for sure

If it's not a loan , it's a "consultancy fee". Obviously for the second year in row her allowance is higher than the three kids combined, if we assume of course she spend their allowance on them.

No wonder Jermaine rides a Ferrari.


There father MJ taught them to be humble and simple so maybe there just taking after there father he just wore that white t shirt and jeans most of the time accept when he was going out or for special occasions at the ranch. plus they are guys,lol learning how to budget their money isn't a bad thing either
 
Yes of course i was speculating and I made it evident by saying "But I don't think Katherine was aware of that letter" I didn't post it as statement of fact . I try to state IMO or I think or I believe for the most part.

You're becoming rather too obsessed with futile details. and it's not your place for that matter to dictate to people how they should converse and express their views. people should not have to pre-fix their statements with "IMO" and other cumbersome terms. it's not a pre-requisite for holding a natural discussion.

may i remind you, the point of having a discussion is for people to exchange ideas and views, some of which could be backed up by facts, evidence or simple logic. However the notion that people should precede their statements during a conversation with certain prefixes just adds unnecessary burdens to the entire experience.

So please stop with the patronizing act and let people converse naturally.
 
Anyway a HQ Victory Tour video was just uploaded on the Jacksons vevo channel by Sony SME. http://youtu.be/KwNNHX_xIPI This year is Victory tour 30th Anniversary. To me that video is a tease of a possible release of the Victory Tour this year. and extras to go with it. Could be Jackie is consulting them on that as well. They are paying him for something . He has been working with them since at least 2010 and to my knowledge he has never been a part of anything that was against the Estate. I see nothing wrong with him getting paid for whatever it is he is doing.
 
Yes of course i was speculating and I made it evident by saying "But I don't think Katherine was aware of that letter" I didn't post it as statement of fact . I try to state IMO or I think or I believe for the most part.

You're becoming rather too obsessed with futile details. and it's not your place for that matter to dictate to people how they should converse and express their views. people should not have to pre-fix their statements with "IMO" and other cumbersome terms. it's not a pre-requisite for holding a natural discussion.

may i remind you, the point of having a discussion is for people to exchange ideas and views, some of which could be backed up by facts, evidence or simple logic. However the notion that people should precede their statements during a conversation with certain prefixes just adds unnecessary burdens to the entire experience.

So please stop with the patronizing act and let people converse naturally.
Passy please don't come at me like that. Im not trying to dictate anything or say how you or anyone should express their views. Im sorry if i made you feel that way. I don't see that anywhere in what you are replying to here. I was just responding to your post saying that I was speculation and cant prove what I was saying. To that I responded with - yes I was speculating and I try to make that evident in my posts. I didn't state you or any had to do that as well. You can certainly express yourself any way you want to within the rules of the board. Please post however you wish. Just don't attack or come at me like that for something I didn't say. Maybe I wasn't clear and cause you to misread my words or intentions.

I actually thought you held the opinion that it was wrong of members to post opinions as fact without stating or making it clear it was an opinion or speculation.etc. but It must have been someone else in the Trial and Tribulations threads backing Ivy on that issue. Some people feel it is important, some don't.. It's not a rule or dictated that anyone must do that . but I guess it can cause members to be challenged sometimes in a discussion if they don't make it clear.
 
The estate has done really well but it really bothers me the way they're washing Katherine's debt away. I knew she would never pay the $6 mil but I've never thought they will pay her millions for consulting fees? What kind of consulting can she offer? That money could have helped some charity org, and I know they can't give any money to charity until they pay all the debts, but if they are gifting money to Katherine why not to some org where people who really need it can benefit. Katherine's needs are covered by the estate, the big extras she's getting is just to satisfy her greed IMO. I'm kind of disappointed.

Now... it seems an old Jackson motto that charity begins at home......
 
Its as clear as day the estate are pandering to kj and giving her money to pay for the rest of the family by inventing consulting roles and the ridiculous amounts they are paying her.branca should grow some balls hes been taken for a mug and it makes me sick how the family are getting mjs money regardless of his wishes.
 
Its as clear as day the estate are pandering to kj and giving her money to pay for the rest of the family by inventing consulting roles and the ridiculous amounts they are paying her.branca should grow some balls hes been taken for a mug and it makes me sick how the family are getting mjs money regardless of his wishes.

This is exactly why a huge financial burden wi be lifted once she passes. No doubt the 1001 cubs have to find legitimate jobs then, which they probably wont and go the Wade way
 
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Its as clear as day the estate are pandering to kj and giving her money to pay for the rest of the family by inventing consulting roles and the ridiculous amounts they are paying her.branca should grow some balls hes been taken for a mug and it makes me sick how the family are getting mjs money regardless of his wishes.

And now that they lost the AEG money, expect to see even bigger 'consulting fees' in the next accounting.
 
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