With questions being raised about the financial status of pop icon Michael Jackson, his estate administrators have come up with a startling disclosure that they have recovered a whopping $5.5 million in cash stashed away by the singer.
Estate administrators John Branca and John McClain have filed court papers disclosing that they have recovered the amount from one of Jackson's “former financial advisers”, CNN reported quoting the filed documents.
The administrators have claimed that Jackson's estate is solvent despite a reported debt of $400 million. Branca and McClain are expected to present contracts to the court within the week that should add “tens of millions of dollars”to the ‘King of Pop’s estate, which they said is solvent and worth an estimated $500 million.
Lawyers for the administrators filed the papers this week asking a Los Angeles County Superior Court judge to allow them to give an undisclosed amount of monthly support payments to the singer’s mother and three children.