Britney Spears wants new conservator to ‘INVESTIGATE finances’ as ‘money is missing’ from dad Jamie’s control of fortune
BRITNEY Spears and her lawyer want to hire a new conservator to “INVESTIGATE” her finances as they believe “money is missing” from dad Jamie's control of her fortune, The Sun can reveal.
Yesterday, attorney filed papers that request the pop star’s father be replaced by high-profile CPA, , as conservator of her multi-million dollar estate.
A source close to the case revealed to The Sun that the “intention of hiring a third party CPA for Britney” is not just to handle her money but to “investigate her finances as well.”
"She has made millions that her attorney believes are unaccounted for and Britney doesn’t know where it went,” the insider claimed.
The informant explained: “The opposing counsels’ team hasn't answered many questions about it either.
“If her money was stolen or used in an unlawful manner, Jason will look into the person or persons responsible and where the money went.”
The legal expert then added that even in a conservatorship, “the conservator cannot use the conservatee's bank account like an ATM.”
They said: “There are a lot of protocols set in place that need to be followed.
'JAIL TIME ON THE TABLE'
“If those were not followed properly in this particular case, either by a family member or a business representative, that would be a criminal offense.”
The source alleged that “jail time would be on the table for whoever unlawfully handled her finances.”
In which were filed on Monday, Britney, 39, and her new lawyer claim that the singer’s net worth is “shockingly low” compared to what it should be.
“Ms. Spears’s net worth is shockingly low and that, although no one knows what she would have done had she been in control of her fate and fortune, it’s hard to imagine how she would have done worse than her estranged dad,” the court papers read.
According to , Britney’s net worth is around $57 million - significantly lower than her musical peers who have sold even less albums or been on fewer tours than she has.
The documents also slam Jamie, 69, and point out his past issues handling money.
PATRIARCH'S HISTORY OF BANKRUPTCY
“Mr. Spears is not a professional business or financial manager. In fact, the Spears family struggled financially under his leadership and filed for bankruptcy in 1998,” the court papers state.
The docs then highlighted the massive amount of Britney’s fortune he gained in past years.
“In addition to that monthly compensation, Mr. Spears has paid himself a share of the revenues generated by Ms. Spears’s performances.
“He reportedly received 1.5% of the gross revenues generated by Ms. Spears’s performances and merchandise sales associated with her highly-successful multi-year Las Vegas residency.
“These gross revenues for box office alone were approximately $137.7 million, plus merchandise sales.
“Mr. Spears cut from that residency is estimated to be at least $2.1 million. He also received a 2.95% commission on Ms. Spears’s gross revenues on her 2011 Femme Fatale tour, which yielded him an estimated $500,000.”
The lawyers argued that: “Although it is common for managers, agents, and other industry professionals to receive a percentage of an artists’ earnings, Mr. Spears is none of those.
“He is a conservator and, as a conservator, his role is to be burdened by, rather than benefit from, the conservatorship.”
'VENOMOUS' DAD
The docs also highlight Britney's hopeful new conservator, Jason’s, long history in this particular field, saying: “Mr. Rubin has significant experience managing trusts, estates and conservatorships, including complex portfolios for high net worth individuals, real estate and closely held (non-real estate) companies and other financial assets valued in the hundreds of millions of dollars.”
Reps for , Jamie and Jason did not respond to The Sun’s request for comment.
Yesterday, the Toxic singer SLAMMED her dad Jamie as she and her attorney filed new papers to get him officially removed from her 13-year-conservatorship.
In the documents, the mom-of-two called the relationship with her father "venomous" and said "it impairs Ms. Spears's mental health, her well-being, and her ability to pursue and continue with her extraordinary career.”
She continued slamming her dad in the docs, adding: “Since receiving professional medical care at the outset of this conservatorship over thirteen years ago, Ms. Spears is clearly in a different place now, and she has been for many years.
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“The entire world has witnessed Ms. Spears working tirelessly -- with astonishing dedication, precision, and excellence.
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"As a musical artist and performer, an exceptional earner for Mr. Spears (and others) who had a financial interest in making sure she would continue to work and perform.”
The docs - which asked for Jason to be appointed onto her case for the first time - also call her dad's control on her life "traumatizing, insane and depressing."
