According to the guardian.co.uk, the Hole singer is claiming that $530 million has been stolen from her once lavish bank account.
Love only became aware there was a financial issue when she "noticed the money was gone ... there wasn't any left".
Love’s lawyer Rhonda J Holmes claims that unscrupulous investors, assistants, CPAs, lawyers, and banks took advantage of Love and looted the entire estate taking $30 million in cash and $500 million through various fraudulent real estate contracts, which were worth up to $800 million. Which leaves Love and her daughter Frances Bean with an empty bank account.
Perezhilton.com reported back in 1994 when Kurt Cobain died, he left his large fortune to his mother, two sisters, one brother, wife, and daughter, Frances Bean. But now the Nirvana’s legacy has all disappeared and the family has nothing. The family must be pissed!
“I have never seen such greed and moral turpitude. This case is going to make Bernard Madoff look warm and fuzzy," Holmes told the New York Post.
Love’ expensive lawyer says, "We will be filing civil cases ... within the next 30 days. There are many, many millions missing. We've only been able to track down $30m, but there is more."
"It's no secret she struggled with substance-abuse issues, but in the last year she's taken a more serious approach to sobriety and started noticing things were wrong."
Holmes suggests during the time that Courtney was having a ‘rough patch’ during her life (i.e getting hammered on drugs and alcohol) she was unable to take care of her own finances so she hired people to take of them and for her, and it seems they definitely took care of the entire account until it hit the zero dollar mark.
Bet she's wishing she didn't flog off her share of the Nirvana recordings for a paltry $50 million!
Holmes told E! News how these investors broke into Love’s account:
"[T]hey arranged by forging power of attorney and the names and Social Security numbers belonging to Courtney, Kurt and Frances—even going so far as to alter the spellings of their names slightly to purchase homes and other holdings across the U.S."
"They would sell a piece of property to a related entity, to someone they know, and they would keep selling to make a profit," says Holmes.
"There are now Kurts and Courtneys and Frances’ spelled different ways that allegedly own properties all over the country that were bought by Kurt's assets.”
"There was so much money at stake, and I think they thought they saw someone who was not paying attention [meaning Love] and took advantage of it."
Love’s Lawyer says this is just the tip of the iceberg when unlocking Love’s unscrupulous finances.
A team of private investigators, accountants and lawyers are now in the process of trying to recover Love’s assets.
We hope they find the stolen assets and money for Frances’ sake, but worse comes to worse, we’re sure Love will find some more of Nirvana’s back catalogue to squander. Expect to hear a Girl's Aloud rendition of 'Smells Like Teen Spirit to hit the sound waves any day now…
Copyright : MTV Australia
