Conservators Took Millions From Britney Spears: According to documents obtained by Forbes, Jamie has collected at least $5 million from his daughter. Around half of this comes from the $16,000 monthly fee Spears has had to pay her father since February 2009, but she’s also had to pay for his office, legal fees, and security. As Forbes reports, he also took a 1.5% cut of the gross ticket sales from her four-year Las Vegas residency. What makes this detail all the more disturbing is Spears’ allegation that she was forced to perform in Las Vegas while sick, or against her wishes; in other words, while she was purportedly put under a conservatorship to protect her own well-being, she was actually forced to work tirelessly to earn money she would never see.
Whether she can remove her father from the conservatorship is one question, but will she ever be able to get back the money he’s pocketed? It’s not completely out of the question, but experts say it’s unlikely.
Spears has expressed an interest in charging Jamie with conservatorship abuse, but in order to bring about a criminal charge — or reclaim her $5 million — she would have to provide clear evidence of financial wrongdoing. “For any of that money to be recouped, there would have to be a showing of some sort of bad faith or some sort of nefarious motive or significant breach of fiduciary duty, which would be unlikely,” trust and estates attorney Andy Mayoras told Insider.
Tamar Arminak, a conservatorship attorney who worked on Amanda Bynes’ guardianship case, told Vulture that there’s a record of Jamie’s income and spending. This could make it particularly hard to prove he’s misspent Spears’ money. “As a conservator for his daughter, all of Jamie Spears’s income and expenses had to be approved by the court — the $16,000 a month income and the $2,000 for office space, all of that has been court-approved and signed off on,” Arminak said.
On the same note, Spears’ medical team has to submit repeated “declarations on her mental capacity,” Arminak added. All of this paints a picture of just how sinister and stringent conservatorships can be — and why it’s been such a battle for Spears to break free.
With Rosengart’s expertise, access to conservatorship documents, and ability to issue a subpoena, Spears might have a better shot at proving her father abused her finances. Sabino Biondi, an estates and trusts attorney at Wilk Auslander LLP, told Insider that Rosengart could then ask a judge to surcharge Jamie for “misspent funds,” but beyond that, he wouldn’t be able to “reverse” the many payments Jamie’s collected.
It’s unlikely Spears will ever get her $5 million back, but with her new, high-powered legal representation and public attention, it is possible that she can regain control of her estate. And right now, that’s a priority.
Called “America’s Number ONE Gossip Columnist” by The National Enquirer. Rob ‘Naughty But Nice’ Shuter breaks celebrity news every day on his website NaughtyGossip.com where he delivers all the dish about the stars we love in his naughty but nice signature style. You can also catch him co-hosting and breaking celebrity news on Good Day New York, The Today Show, The Talk, Wendy Williams Show, CNN, Extra and Z100’s ‘Elvis Duran.’ Previously, Rob was the Huffington Post’s only celebrity columnist and the former executive editor of OK! Magazine. Rob has also hosted his own Saturday night talk show on Mark Cuban’s channel and his own daily morning show, ‘The Gossip Table,’ on VH1! Breaking some of the biggest entertainment stories, including Jamie Lynn Spears’s pregnancy news, Britney’s first post-meltdown interview, Eva Longoria’s wedding, and baby exclusives for Jessica Alba, Tori Spelling and Mathew McConaughey’s tots, Rob always knows where to find the best scoop. Before Rob was one of the world’s most successful entertainment reporters, he was a publicist working for Jennifer Lopez, Alicia Keys, P. Diddy, Jessica Simpson and Jon Bon Jovi! Now he is bringing all this experience to his new show on I HEART MEDIA in his unique cheeky way, that is always a pinch and never a punch!
Conservators Took Millions From Britney Spears. Conservators Took Millions From Britney Spears