Originally Posted by Datsymay
I remember the case because i was following it just as much as other fans whowere intersted.
I remember that there were 2 separate loans that were outstanding, but Mj had just had the larger loan secured with a sony restructuring deal, however, it was the smaller loan of around $27 millionthat Mj had trouble paying and was worried that he might default on it.
Randy went out looking for a finacier to take over the small loan in order to stave off a default, and he went to his friends the dash brothers, i'm not sure of the name.
the brothers secured 2 separate loans, one to pay off the short loan and a second, of about $500 millions which they claimed they secured for Mj to buy out the rest of the sony catalogue.
Randy's only involvement with the brothers was to bring them to Mj and it was Mj who was involved with the negotiations with the brothers. as I remember it.
Just before a deal was signed Mj's small loan was sold to another company RF reported it in the media.
Mj decided not to continue with the negotiations with the brothers, but to go directly to the new loan holder, and securing a better interest rate.
the brothers were very irated because they claimed that they had done a lot of work and they sued Mj for commission to the tune of $50mil. that was wittled down to about $5 million and Mj settled with them out of court.
randy's name was never mentioned as part of the lawsuit at all. and as I remember, there was no actual cash available for randy to steal. Randy was working flat out trying to secure cash for Mj to pay his bills cause there was no money coming in. even jessie jackson had to help out at one stage.
jermaine got the Prince of Bharain pouring millions into Grace's bank account for Mj to pay his bills. Grace testified in court that she recieved that money from the prince during the trial. the Prince was also a part of the Sony loan restructuring. these people were trying their best to help Mj to save his assets, not steal his money. That is the other side of the story.
MJ gave a deposition under oath in which he said he had never met or heard of that company , he had never signed a deal with them and had no idea what was they were accusing him of . Randy SIGNED a deal with them as MJ's manager , MJ had never ever agreed to do anything with them it was Randy alone , MJ was negotiating with others at the time , but Randy trapped him in that deal with that company so MJ would have been forced to stopt negotiating with others and refinance through him so he would get paid under the table .
in the same deposition MJ talked about Randy and his friend trying to force him to sell the catalogue when he did not agree to sign the refinancing deal .He admitted at some point he was so desperate that he really considered selling it to make everything go away . But Ron Burkle was calling him day night begging him : "DON'T SIGN , DON'T SIGN ANY PAPER MICHAEL" .
MJ issued a statement denying he called Randy a thief , but what else did you expect from him ? the man even settled the case because the only way to fight that company was to go after his own brother . He preferred to pay instead of putting Randy's ass in jail .
and how Randy returned the favor? He asked Roger Friedman to write a lengthy article on MJ's drug and alcohol addiction , being out of it all the time ...etc .
Randy was bitter because he was thrown out without anything and he was also exposed , he had no chance to be hired again , MJ exposed him . Not to mention the lawyers and accountants hired by him who also failed to pay anyone especially once MJ left the U.S , they were lawyers and they knew if they were busted they would be in deep shit but someone with authority made them feel MJ would have never questioned Randy . that was randy himself , that explains the threats made by Randy in the media to sue MJ , Roger talked about that also . Brian Oxman also sued MJ when mj sued the lawyers and accountants , he lost. the point was to prove mj did not pay the lawyers himself , and randy was not the problem .
as for the prince of Bahrain , Grace had a million dollar in her account sent by the prince during the trial , MJ did not ask him for anything according to Grace testimony , MJ did not know him in the first place , Jermaine told the prince to shower MJ and HIMSELF with presents so mj would feel obligated to return the favor at some point which indeed happened , mj went to Bahrain , he thought the prince was sincer, the prince had other plans for him at the time, MJ meant business to him . He signed a very very poor contract with little to no financial benefits to MJ at the time and above that the other part was a non existing company FICTIONAL company . He was blackmailed by that contract to stay , and God knows what else he was asked to do , maybe some here don't know what kind of 'favors' some of the Sheikhs expect from their 'friends' and I have NO DOUBT he at some point was asked to do them . you can imagine .
he was exactly like Prince Alwaleed , they did not need MJ's money , but they want the exposures , it just satisfied their egos that Michael Jackson himself needed their support .
Prince Alwaleed's people even started a rumour in 2002 and 2003 claiming that at some point in 1998 MJ knelt on his knees and begged him infront of people to not stop investing in MJ's companies because that meant his financial ruin .
so it was never for free , he was seen as a business venture , and in some way a means to satisfy some egoistic princes .
