Jackson may be $288m in debt, say prosecutors

Michael Jackson may be ”on the precipice of bankruptcy,” owing $288m (€214m), prosecutors at his child molestation trial told a judge today.

They were seeking access to the star’s financial records.

Assistant District Attorney Gordon Auchincloss said prosecutors believe financial problems may have motivated Jackson to take part in an alleged conspiracy to hold his accuser’s family captive and try to get them to help rebut a TV documentary that damaged the singer’s public image.

Prosecutors believe Jackson may be $288m in debt, then said the singer may have $385m (€286m) in liabilities and that his financial troubles “will all come crashing down on him in December of 2005,” Auchincloss said.

“All we are looking for is a concise snapshot of the defendant’s financial condition,” he said at the court in Santa Maria, California.

The defence is fighting the request.

Jackson lawyer Robert Sanger said that Auchincloss’ statements, “whether they are accurate or not, and I don’t believe they are, are totally irrelevant to this.”

Sanger said that what was at issue was Jackson’s financial picture in February and March 2003, the time of the alleged conspiracy.

He said existing case law should prevent admission of evidence about any possible financial motive.