Lisa Marie Presley accused of failing to disclose fortune at divorce hearing

Lisa Marie Presley was accused of failing to disclose a $5.6 million-a-year fortune as she and her estranged husband appeared at a divorce hearing in Los Angeles.

Presley and Michael Lockwood, who have two children together, appeared at Los Angeles Superior Court where a judge ruled she must pay $50,000 (£40,000) towards his lawyers’ fees.

Presley, the only daughter of the late rock star Elvis, filed for divorce from musician Lockwood in June after 10 years of marriage.

Jeff Sturman, representing Lockwood, said his client faced “a continual state of poverty with no means to pay living expenses whatsoever” if Presley did not provide spousal support.

Michael Lockwood and Lisa Marie Presley (Ian West/PA)

“Her average annual earring is $5.6 million (£4.5m) per year,” Sturman said.

“That’s recurrent, based on tax returns.

“In order to generate five and a half million dollars a year you would have to start with a base of around $75 million.”

Sturman said Presley’s earnings were almost entirely from an Elvis Presley trust fund and she was trying to “bulldoze” her estranged husband “into submission”.

Lisa Marie Presley (Andy Butterton/PA)

“She wants Mr Lockwood to go without,” he added.

Mark Gross, representing Presley, said his client earned $100,000 (£80,000) a month and faced huge debts and expenses to pay for the care of their eight-year-old twin daughters.

“She still owes the government over $1 million (£804,000) for 2015 alone,” Gross said.

“(Mr Lockwood) could apply to be a guitar salesman or a music teacher. He doesn’t believe he has an obligation.”

Michael Lockwood and Lisa Marie Presley (Ian Nicholson/PA)

Judge Patrick Cathcart ruled Presley must pay $50,000, in five $10,000 instalments, towards Lockwood’s lawyers’ fees.

The judge said he would rule on Lockwood’s request for $40,000 a month (£32,200) in spousal support at a later date.

A two or three-day trial on the validity of the former couple’s pre-nuptial agreement is expected to take place in May or June.

There was no mention in court of Presley’s claims that she discovered hundreds of inappropriate photos and “disturbing video footage” on Lockwood’s computer.

Lisa Marie Presley (Michelle Thorpe/PA)

In court papers filed last week she said the couple’s daughters were taken into the care of the department of children and family services in Los Angeles. Her mother Priscilla has since revealed she is looking after the girls.

Lockwood has denied any wrongdoing and branded Presley’s claims “highly sensational, inaccurate and unproven”.

It is Presley’s fourth divorce after she was previously married to the late pop star Michael Jackson, actor Nicolas Cage and musician Danny Keough.

She is reportedly living with her eldest daughter Riley, from her first marriage to Keough.

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