Jackson's 'bank loan aliases'
2009-07-04 14:32
Los Angeles - Michael Jackson allegedly used 20 aliases to apply for bank loans.
The late singer - who died from a suspected cardiac arrest last week - reportedly used several variations of his name because his credit history was so poor and financial institutions were reluctant to give him money.
In 2007, the Thriller singer - who was raised in the Jehovah's Witness faith - allegedly applied for loans under the names President Mr Michael Jackson, Michael JJJ Christ-Jehovah, Michael J Jackson ChristJeh, Michael Jackson Jehovah and Mike J Jackson.
He also reportedly used alternative spellings of Michael - Micheal and Micheel - in a bid to trick bank managers.
According to Britain's The Sun newspaper, leaked financial documents linked to some of Michael's properties show the failed applications.
It is illegal to give a false name to a financial institution for money for the purpose of influencing the bank's decision and anyone found guilty could face fines of $1m, 30 years in prison or both.
Despite being one of the most successful musicians of all time, Michael has struggled financially in recent years and was reportedly desperate for monetary help.
A source said: "Michael Jackson's financial affairs were beyond a mess with county court judgements and taxes owed all over the place. No bank was prepared to bail him out."
Meanwhile, Tommy Mottola, the former boss of Sony music - who owns the distribution rights to Michael's music - has revealed the label has "dozens" of unreleased tracks in storage which could guarantee the pop legend a place in the charts for the next 30 years.
He said: "There are dozens of songs that did not end up on any of his albums. People will be hearing a lot of that unreleased material for the first time ever. There's just some genius and brilliance in there.
"The releases could go on and on for years - even more than Elvis."
According to record sources, the collection of tracks includes recently recorded material with Black Eyed Peas singer will.i.am and singer-and-producer Akon.
Tommy also said the collection includes singles left off Michael's earlier LPs, including Bad and HIStory.
It is believed Michael - who currently holds nine out of the 10 top US album chart spots - kept the unreleased tracks back to ensure financial security for his three children Prince Michael, 12, Paris, 11, and seven-year-old Prince Michael II.
Meanwhile, details of the late singer's will - which was released on Thursday - have been revealed.
Michael's mother Katherine Jackson will reportedly get 40% of the assets, his three children will get a further 40% and the remaining 20% will be donated to several children's charities.
- bangshowbiz.com