Day: July 13, 2006

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Forensic Accountant Cites Invalid Money Claims – MB#314

Forensic Accountant Cites Invalid Money Claims – MB#314

JULY 13 2006 – The jury is now deliberating in the matter of the civil suit and counter-suit between Marc Schaffel and Michael Jackson. Now Schaffel only wants $1.4 million instead of $1.6 million, which itself was cut down from the initial asking of $3.8 million.

Before closing arguments began, forensic accountant Jan Goren testified to digging through Schaffel’s financial goings-on. The forensic accountant found out a lot of things about the way Schaffel was cooking the books, so to speak, in relation to the bank account filled with Jackson’s money which he controlled.

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Money dispute between Michael Jackson, ex-associate goes to jury

[b]Money dispute between Michael Jackson, ex-associate goes to jury[/b] LINDA DEUTSCH Associated Press SANTA MONICA, Calif. – A bitter money dispute between Michael Jackson and a former associate was placed in the hands of jurors Thursday after the singer’s lawyer portrayed plaintiff F. Marc Schaffel as a man who betrayed the star and urged them to “send him from this courtroom with nothing.” Schaffel’s lawyer contended in rebuttal that jurors should use a special logic in dealing with the case, a logic that exists only in “Michael world, not our world.” “It’s a world where a superstar professes love for Marc Schaffel and entrusts him … Michael world – a world without receipts,” said attorney Howard King.

[MJEOL NOTE: Schaffel is the only one without receipts and documentation. Jackson’s attorneys have presented documentation to support their case.]

Schaffel claims Jackson owes him $1.4 million in loans and expenses. Jackson countersued and his attorney, Thomas Mundell, told the jury that Schaffel actually owes the pop star $660,000.

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Attorney says Jackson ‘useless’ in own business matters

[b]Attorney says Jackson ‘useless’ in own business matters[/b] LINDA DEUTSCH Associated Press SANTA MONICA, Calif. – Michael Jackson’s lawyer told jurors Thursday that a former associate suing the singer owes Jackson $660,000 and that the pop star owes the man nothing. Answering claims by F. Marc Schaffel’s lawyer that Jackson owes $1.4 million, attorney Thomas Mundell outlined every bill and claim by Schaffel and said the former associate was guilty of a breach of fiduciary duty and fraud in his handling of accounts for a business he formed to do work for the pop star. The allegations came in the conclusion of the defense argument. The case was expected to go to the jury after a rebuttal by the plaintiff’s attorney Howard King. In his argument, Mundell showed that the bank accounts for the business, which had once totaled millions, were virtually empty within a month after Jackson fired Schaffel. “The accounts were pretty much looted,” he said, and reiterated his claim that in the following year Schaffel tried to do a side deal to sell rights to a Jackson recording to a Japanese company, Music Fighters, and took $400,000 from that deal to make a down payment on his own home.