Michael Jackson's Siblings Promise New Fight Over His Estate
July 20, 2012
Michael Jackson's estate faced a tumultuous beginning three years ago after he unexpectedly died. First his mother, Katherine, and then his father, Joe, filed challenges against the executors of his Estate, John Branca and John McClain. Katherine backed off her attack and Joe's case was thrown out of court.
Since then, the Estate has been relatively peaceful, at least on the surface. Branca and McClain have led the Estate from a debt-ridden start to enormous profits. They began around $500 million in the red when the King of Pop died. Three years later, the Estate reported $475 million in profits.
Of course, Branca and McClain have enjoyed a huge financial windfall from this as well. They have a special arrangement, blessed by the probate judge who oversees the estate, allowing them to earn 10% from most deals they cut for the Estate. Branca and McClain are now facing a new attack over their handling of the Estate.
Several of Michael's brothers and sisters -- including Janet, Randy, Tito and Jermaine -- signed a letter that they sent to Branca and McClain accusing the pair of fraud, forgery, exploitation and abuse. The letter was published on a celebrity gossip website recently.
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