lisa marie presley's former business manager Barry Siegel has filed a countersuit against the daughter of the late elvis presley. Just hours after the news of Presley's suit broke, Siegel fired back, citing Lisa Marie's spending habits as the cause of her financial devastation.

Another day, another lawsuit for Lisa Marie Presley

Legal fees continue to stack up for Lisa Marie Presley, who, as previously reported, is involved in a number of court cases. The most recent is her suit against her former business manager, claiming his actions are the reason her fortune is gone.

Siegel claims Presley's out of control spending is the problem. Siegel spoke with The Blast, telling them that while he understands that she is having a rough time in her life now, she is shifting blame, and refusing to accept responsibility for her poor judgment and actions.

Who's to blame for money troubles?

He also claims that the bad deal Lisa is blaming him for took place in 2005, and brought her $20 million that paid her back debts. He also states that Lisa did not handle her business and went on crazy spending sprees and lived well above her means despite having had millions of dollars at her fingertips.

Court docs filed by Siegel claim that Lisa spent twice as much money as she had since inheriting her famous father's estate.

As previously reported, Elvis Presley's estate was on the verge of bankruptcy at the time of his death. It was also revealed that Elvis' ex-wife Priscilla Presley was the one who took over and brought new life back into Elvis Presley Enterprises.

Barry Siegel is suing LMP for $800,000 in damages. Lisa's business manager is not the only one to state that Lisa was unaccountable for her finances and has never taken responsibility for anything in her life.

Michael Lockwood is also not planning to back down in court. He remains firm that Presley destroyed his life with her false and disgusting accusations concerning the former couple's twin daughters, Harper and Finely.

He also claims that it damaged his reputation and now he is unable to get a job. He is demanding legal fees and spousal support in the amount of $40,000 per month from Lisa.

Lisa Marie claims there is no way this can happen, she is broke, living with her daughter, and her music career is not generating income.

It is not yet known when LMP and Barry Siegel will be facing off in court on this matter. That said, it may be a while before any of these cases are settled.
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