Jackson is a "spendaholic" on verge of bankruptcy : prosecutors

by Giles Hewitt
SANTA MARIA, California - Prosecutors on Friday painted Michael Jackson as a "spendaholic" on the verge of bankruptcy, as they argued to win access to the superstar`s financial records.
The claims came a day after the pop icon dramatically turned up at his child sex trial late, wearing pyjama bottoms and slippers and narrowly avoiding jail time after the judge issued a warrant for his arrest.
Prosecutors claimed Friday that the faded "King of Pop," who produced the biggest-selling album in history, was buckling under the weight of up to 400 million dollars in liabilities.
They allege that Jackson conspired to kidnap the 13-year-old boy who accused him of sex abuse and hold him and his family prisoner in a desperate bid to limit damage to his crumbling financial empire that would be caused by the adverse publicity.
"We have more than reason to believe that Michael Jackson is on the precipice of bankruptcy," said Deputy District Attorney Gordon Auchincloss during a hearing devoted to legal motions, which Jackson did not attend.
Describing Jackson as "spendaholic," Auchincloss told Judge Rodney Melville in the California town of Santa Maria that the pop icon "has a billionaire spending habit for only a millionaire`s budget."
The superstar, once said to be a billionaire, would find his huge debts "crashing down on him in December 2005," Auchincloss claimed, attempting to establish Jackson`s motive for the alleged conspiracy.
"Michael Jackson has an insatiable appetite for money," he said adding that in 1999 and 2001 the star was spending 35 million dollars a year on an income of only 11 to 12 million dollars.
Defence lawyer Robert Sanger objected to Auchincloss`s assault on Jackson`s financial situation, accusing him of simply providing explosive soundbites for the benefit of the press rather than tackling the issues at hand.
Sanger said that the records the prosecution were seeking to subpoena into evidence at Jackson`s trial were "totally irrelevant" to the case as they dealt with the star`s overall financial position rather than his condition at the time of the alleged plots on February 2003.
But Auchincloss said prosecutors intended to call a forensic accountant to try and show that Jackson had a financial motive for wanting to kidnap and imprison his accuser and his family at Neverland and that the expert needed Jackson`s full financial records in order to testify.
The judge did not immediately rule on the prosecution bid, but told both sides in the case to try and hammer out a compromise agreement on to what extent Jackson`s financial records should be allowed into evidence.
The financial tug-of-war played out after two weeks of explosive testimony, including that of Jackson`s 15-year-old accuser, who told of his alleged abuse at the hands of the star.
Jackson and the trial jurors were not in court for Friday`s hearing.
The mercurial superstar caused chaos Thursday when he narrowly escaped arrest after turning up more than one hour late for his trial, wearing bedroom garb, after being taken to a hospital emergency room for treatment for a back injury.
A furious Melville ordered Jackson arrested and his three million dollars bail forfeited unless he turned up within an hour.
A dishevelled and clearly distressed Jackson limped into court a few minutes after the deadline expired, but Melville quashed the arrest warrant and restored Jackson`s bail.
Instead of his trademark showman outfits, he was clad in slippers, faded blue pyjama bottoms, a white shirt and a black jacket, and with his usually-immaculate hair uncombed.
When the singer finally took his seat, his accuser took the stand for a second day, describing in graphic detail how he was molested at least twice on Jackson`s bed at his Neverland Ranch.
"He told me that males have to masturbate," the soft-spoken boy said, describing the first alleged abuse in February or March 2003.
"He said if I didn`t know how then he would do it for me. He put his hands in my pants and he started masturbating me."
The alleged incident took place under the covers in Jackson`s bed after the pair returned from a night of drinking alcohol in Neverland`s amusement arcade, the boy said.
The prosecution alleges that Jackson molested the boy on four occasions, plied him alcohol and plotted to kidnap him and his family and keep them prisoner at his Neverland. He could be jailed for 20 years if convicted.

03/11/2005 19:09 GMT