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Britney's total assets were worth $2.8 million in 2008 but she also paid millions in 2008 legal fees???


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Adam Streisand assessed the SJB Trust was worth 40 million. In 2008 and 2009 her net worth was reported as being 40/50 million, and they was the time they had to report every nickel or dime.

 

There are two possibilities: fraud or she's misleading us by showing off Britney's liquid assets (the money she had in her bank, not her gross income or net worth)

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35 minutes ago, Bundy said:

It was actually a custody lawyer who did a ****ty job on Britneys case that referred Adam to Britney

I was confused with that 

Streisand had asked the court to instead name Northern Trust Bank and Spears' business manager Howard Grossman as co-conservators. Grossman, who hadn't yet handed over the financial information to Wallet because he didn't know if he was supposed to, said he would be "happy to help" his client and her family in any way.

I wouldnt doubt If Bryan and his uncle were doing shady things to her trust and fortune.


Ah, it was a custody lawyer from Trope & Trope. I got the firm right, at least...I forgot that she switched from Laura Wasser to Trope & Trope in October of 2007, while Kevin kept Mark Vincent Kaplan the entire time, for both his divorce and his custody case.

As for Bryan...

That's the only possibility I can think of at this point — that he was at the very least making bad investments in the background.

If it was Lutfi or someone else that was leaching, you can bet Team CON would have outright accused them. But they never have.

Who else is there, apart from Grossman?

Theoretically, Bryan shouldn't haven't been able to touch any assets placed in the SJB Revocable Trust between 2004 and February 2009...It wasn't until after Britney was found to be incompetent that Bryan and Ivan Taback were named co-Trustees:

"According to the trust, which was established in 2004, if Britney stops being a trustee, “then Bryan Spears … and Ivan Taback [a partner in the personal planning department of the New York-based law firm Proskauer Rose] may act as successor co-trustees under the trust.”"

Source: https://people.com/crime/whos-in-charge-of-britney-spearss-money/

But that doesn't mean that someone wasn't dabbling with the funds coming into her "estate" — which would have been her monthly income from, e.g. perfume sales.

(I think I've got that right?)

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48 minutes ago, Applejack said:

Adam Streisand assessed the SJB Trust was worth 40 million. In 2008 and 2009 her net worth was reported as being 40/50 million, and they was the time they had to report every nickel or dime.

 

There are two possibilities: fraud or she's misleading us by showing off Britney's liquid assets (the money she had in her bank, not her gross income or net worth)


Streisand assessed her estate at $40-million. He never mentioned the SJB Revocable Trust.

The estate and the Trust are two separate things.

Right now Jamie is in charge of the "estate"  — the money coming in monthly from, e.g. tours and perfume sales.

Theoretically, they never should have been able to touch what was in the SJB Revocable Trust — but the judge allowed them to move Britney Touring, LLC over to the "estate" to be managed by Jamie due to the lawsuit with Johnny Wright ("Britney Touring, LLC" was named in the lawsuit). Since then, they've moved more of her assets from the Trust to the "estate." We just don't know how much.

Vivian is also referring to the "estate." But still, $40-million and $2.8-million is a huge difference!

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21 hours ago, Steel Magnolia said:


Streisand assessed her estate at $40-million. He never mentioned the SJB Revocable Trust.

The estate and the Trust are two separate things.

Right now Jamie is in charge of the "estate"  — the money coming in monthly from, e.g. tours and perfume sales.

Theoretically, they never should have been able to touch what was in the SJB Revocable Trust — but the judge allowed them to move Britney Touring, LLC over to the "estate" to be managed by Jamie due to the lawsuit with Johnny Wright ("Britney Touring, LLC" was named in the lawsuit). Since then, they've moved more of her assets from the Trust to the "estate." We just don't know how much.

Vivian is also referring to the "estate." But still, $40-million and $2.8-million is a huge difference!

I had the quote of Streisand saying he assessed the trust in early 2008 (gonna owe ya this), but Britney really did place most (if not all) her assets into the SJB Trust as per Ivan Taback, the lawyer who set it up with her in 2004. All her entities (companies) were under the trust and Adam refers to those. Most of her estate's worth is in that trust which makes the switch between the trust companies and the cship all the more weirder.

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4 hours ago, Applejack said:

I had the quote of Streisand saying he assessed the trust in early 2008 (gonna owe ya this), but Britney really did place most (if not all) her assets into the SJB Trust as per Ivan Taback, the lawyer who set it up with her in 2004. All her entities (companies) were under the trust and Adam refers to those. Most of her estate's worth is in that trust which makes the switch between the trust companies and the cship all the more weirder.


I feel like this is how they've been able to pull the wool over everyone's eyes for all of these years — including Judge Penny, and maybe even Britney herself.

I've always thought that nobody could touch what was in the SJB Revocable Trust. It wasn't until a week or two ago that I saw a document that said that they had moved "Britney Touring, LLC" from the Trust to the "estate" that I realized the possibilities. 

It sounds as if they can literally shift money back and forth between the two if they ever wanted to fudge the numbers.

As for Adam Streisand, was it this quote you're referring to?

"Streisand, who said he was referred to the singer by her custody lawyers at Trope and Trope, had also questioned the expertise of court-appointed co-conservator Andrew Wallet, claiming that he didn't have the expertise to handle the estate or the trust, given that Britney's estate is worth $40 million, encompasses 15 separate entities and is in the middle of a $17 million audit. Streisand had asked the court to instead name Northern Trust Bank and Spears' business manager Howard Grossman as co-conservators. Grossman, who hadn't yet handed over the financial information to Wallet because he didn't know if he was supposed to, said he would be "happy to help" his client and her family in any way."

Source: https://www.mtv.com/news/1580917/britney-spears-lawyer-ejected-from-courtroom-after-judge-doesnt-recognize-him-as-her-counsel/

I originally took from that paragraph that Streisand was referring to the "estate" — meaning everything that wasn't in the SJB Revocable Trust. Meaning, the "estate" contained, e.g. her bank account.

However, those "15 separate entities" are Britney's limited liability companies — which Goetz determined the following week were part of the SJB Revocable Trust. She allowed "Britney Touring, LLC" to be moved from the Trust over to the "estate" for Jamie to manage. Presumably, that was due to the WEG lawsuit with Johnny Wright, that named that specific LLC as well as Britney personally.

So, here's what I think is happening...

MTV referred to the $40-million as being part of her "estate" ... But that $40-million included the SJB Revocable Trust.

Vivian Thoreen is referring to the "estate" ... But I think she's referring only to Britney's bank account.

Does that make sense?

My biggest question now is...

Why did Bryan step down as co-Trustee of the SJB Revocable Trust? And more importantly, when did it happen?

Why was Jamie Lynn suddenly placed in charge of millions of dollars when — unlike Bryan — she has zero experience with managing money?

EDIT:

@Bundy I have a feeling my last question ("When did it happen?") is going to dovetail with your observations about Britney receiving less custodial time back in 2018 or so.

Do you have a date that you think that first happened? Or can you tag me in the thread where you last wrote out the dates that you think Britney first stopped taking her medication? That seemed to coincide with when she started seeing the boys less.

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35 minutes ago, Steel Magnolia said:


I feel like this is how they've been able to pull the wool over everyone's eyes for all of these years — including Judge Penny, and maybe even Britney herself.

I've always thought that nobody could touch what was in the SJB Revocable Trust. It wasn't until a week or two ago that I saw a document that said that they had moved "Britney Touring, LLC" from the Trust to the "estate" that I realized the possibilities. 

It sounds as if they can literally shift money back and forth between the two if they ever wanted to fudge the numbers.

Jamie Lynn being a sneaky trustee that we learned of years after her appointment (and it looks like Ingham was surprised too) really sold the idea they can do whatever they want with the trust. Jamie and Wallet have a big say on who gets to be trustee in court, and so far they only chose Jamie's kids.

It's obvious they have full control. Britney Touring was officialized in 2008, but Jamie and Wallet took over Britney Brands Inc., Britney Films Ltd., Britney Online Inc., Britney Television LLC and Fairy Zone Productions eventually too (and terminated all of them but Britney Brands). All trust assets. So Thoreen coming in with claiming Britney only had 3 million dollars in 2008 is completely misleading. Iirc Bryan was managing something money-wise in Britney's life in the second half of 2007 too, not the trust though.

2 hours ago, Steel Magnolia said:

As for Adam Streisand, was it this quote you're referring to?

"Streisand, who said he was referred to the singer by her custody lawyers at Trope and Trope, had also questioned the expertise of court-appointed co-conservator Andrew Wallet, claiming that he didn't have the expertise to handle the estate or the trust, given that Britney's estate is worth $40 million, encompasses 15 separate entities and is in the middle of a $17 million audit. Streisand had asked the court to instead name Northern Trust Bank and Spears' business manager Howard Grossman as co-conservators. Grossman, who hadn't yet handed over the financial information to Wallet because he didn't know if he was supposed to, said he would be "happy to help" his client and her family in any way."

Source: https://www.mtv.com/news/1580917/britney-spears-lawyer-ejected-from-courtroom-after-judge-doesnt-recognize-him-as-her-counsel/

I originally took from that paragraph that Streisand was referring to the "estate" — meaning everything that wasn't in the SJB Revocable Trust. Meaning, the "estate" contained, e.g. her bank account.

However, those "15 separate entities" are Britney's limited liability companies — which Goetz determined the following week were part of the SJB Revocable Trust. She allowed "Britney Touring, LLC" to be moved from the Trust over to the "estate" for Jamie to manage. Presumably, that was due to the WEG lawsuit with Johnny Wright, that named that specific LLC as well as Britney personally.

Yeah, it's that quote too. But there's another I had in which he mentions directly how he assessed the trust. But I can't find it easily on Google and the place I was storing it is gone. Maybe I'm just crazy lol and inferred that from the "entities" quote. Her investments, companies, interests were all in the trust too, so...

 

 

 

 

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35 minutes ago, Applejack said:

Jamie Lynn being a sneaky trustee that we learned of years after her appointment (and it looks like Ingham was surprised too) really sold the idea they can do whatever they want with the trust. Jamie and Wallet have a big say on who gets to be trustee in court, and so far they only chose Jamie's kids.

It's obvious they have full control. Britney Touring was officialized in 2008, but Jamie and Wallet took over Britney Brands Inc., Britney Films Ltd., Britney Online Inc., Britney Television LLC and Fairy Zone Productions eventually too (and terminated all of them but Britney Brands). All trust assets. So Thoreen coming in with claiming Britney only had 3 million dollars in 2008 is completely misleading. Iirc Bryan was managing something money-wise in Britney's life in the second half of 2007 too, not the trust though.

Yeah, it's that quote too. But there's another I had in which he mentions directly how he assessed the trust. But I can't find it easily on Google and the place I was storing it is gone. Maybe I'm just crazy lol and inferred that from the "entities" quote. Her investments, companies, interests were all in the trust too, so...

 

 

 

 


:kidcries_crying_sad_tearing_up_sobbing:

No words.

I already knew all of this intuitively, but have never seen anyone else summarize it in print.

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5 hours ago, Steel Magnolia said:


I feel like this is how they've been able to pull the wool over everyone's eyes for all of these years — including Judge Penny, and maybe even Britney herself.

I've always thought that nobody could touch what was in the SJB Revocable Trust. It wasn't until a week or two ago that I saw a document that said that they had moved "Britney Touring, LLC" from the Trust to the "estate" that I realized the possibilities. 

It sounds as if they can literally shift money back and forth between the two if they ever wanted to fudge the numbers.

As for Adam Streisand, was it this quote you're referring to?

"Streisand, who said he was referred to the singer by her custody lawyers at Trope and Trope, had also questioned the expertise of court-appointed co-conservator Andrew Wallet, claiming that he didn't have the expertise to handle the estate or the trust, given that Britney's estate is worth $40 million, encompasses 15 separate entities and is in the middle of a $17 million audit. Streisand had asked the court to instead name Northern Trust Bank and Spears' business manager Howard Grossman as co-conservators. Grossman, who hadn't yet handed over the financial information to Wallet because he didn't know if he was supposed to, said he would be "happy to help" his client and her family in any way."

Source: https://www.mtv.com/news/1580917/britney-spears-lawyer-ejected-from-courtroom-after-judge-doesnt-recognize-him-as-her-counsel/

I originally took from that paragraph that Streisand was referring to the "estate" — meaning everything that wasn't in the SJB Revocable Trust. Meaning, the "estate" contained, e.g. her bank account.

However, those "15 separate entities" are Britney's limited liability companies — which Goetz determined the following week were part of the SJB Revocable Trust. She allowed "Britney Touring, LLC" to be moved from the Trust over to the "estate" for Jamie to manage. Presumably, that was due to the WEG lawsuit with Johnny Wright, that named that specific LLC as well as Britney personally.

So, here's what I think is happening...

MTV referred to the $40-million as being part of her "estate" ... But that $40-million included the SJB Revocable Trust.

Vivian Thoreen is referring to the "estate" ... But I think she's referring only to Britney's bank account.

Does that make sense?

My biggest question now is...

Why did Bryan step down as co-Trustee of the SJB Revocable Trust? And more importantly, when did it happen?

Why was Jamie Lynn suddenly placed in charge of millions of dollars when — unlike Bryan — she has zero experience with managing money?

EDIT:

@Bundy I have a feeling my last question ("When did it happen?") is going to dovetail with your observations about Britney receiving less custodial time back in 2018 or so.

Do you have a date that you think that first happened? Or can you tag me in the thread where you last wrote out the dates that you think Britney first stopped taking her medication? That seemed to coincide with when she started seeing the boys less.

I'll try to find bc I don't remember which thread I replied that to u. 

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12 hours ago, Applejack said:

It's obvious they have full control. Britney Touring was officialized in 2008, but Jamie and Wallet took over Britney Brands Inc., Britney Films Ltd., Britney Online Inc., Britney Television LLC and Fairy Zone Productions eventually too (and terminated all of them but Britney Brands). All trust assets. So Thoreen coming in with claiming Britney only had 3 million dollars in 2008 is completely misleading. Iirc Bryan was managing something money-wise in Britney's life in the second half of 2007 too, not the trust though.

 

 


Question...

How do you know they terminated them all except for Britney Brands? Did they literally shut down these LLC's?

It used to be quite easy to find this info online, but over the past two years or so it's all been scrubbed from the 'Net.

I know that Jamie created a whole whack of new LLC's for which he was President and Andrew Wallet was Treasurer, e.g. "Shiloh Standing, LLC"

Wouldn't that be a great way to confuse the court as well? Move funds back and forth between Britney's original LLC's and Jamie's new LLC's, both of which conduct the exact same activities?

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10 hours ago, Thecodeman25 said:

Not saying it’s right, but maybe they took her LIQUID assets to come to that number? 

I thought this too but $2.8 million would last Britney a few months at best with her kind of expenses and bills. Something is being left out of this equation 

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47 minutes ago, Steel Magnolia said:


Question...

How do you know they terminated them all except for Britney Brands? Did they literally shut down these LLC's?

It used to be quite easy to find this info online, but over the past two years or so it's all been scrubbed from the 'Net.

I know that Jamie created a whole whack of new LLC's for which he was President and Andrew Wallet was Treasurer, e.g. "Shiloh Standing, LLC"

Wouldn't that be a great way to confuse the court as well? Move funds back and forth between Britney's original LLC's and Jamie's new LLC's, both of which conduct the exact same activities?

TheSurpriseWitness is delving into a financial investigation. This is a list of entities registered at Tri Star/Lou's address, notice Fairy Zone Productions (she has more content like this too)

I have a google doc that compiles them all too. It hasn't been updated in a long while but I doubt the dissolved and inactive companies came back. You can get this info in bizpedia.com, corporation wiki or, if you know the name of the company and the state it is registered, you can check the company status at the state's website (generally it's the secretary of the state's site). But basically all Britney companies pre-cship are/were Lou/Jamie/Wallet managed.

https://docs.google.com/document/d/1nLohJShqmZiuvK1eHT5A76qK3115VWZW_wHBl1iD2SI/edit?usp=drivesdk

 

Also, Lou seems to have walked into a huge conflict of interest as she was/is the owner of Prime Capital Services/Stonebridge Wealth Manager with a Tri Star higher-up. Supposedly this company shot up from having no important wealth to take care of to having a $600 million dollar fortune to take care overnight, and that coincided with a move Jamie Lynn did as trustee.

 

 

 

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16 minutes ago, Applejack said:

TheSurpriseWitness is delving into a financial investigation. This is a list of entities registered at Tri Star/Lou's address, notice Fairy Zone Productions (she has more content like this too)

I have a google doc that compiles them all too. It hasn't been updated in a long while but I doubt the dissolved and inactive companies came back. You can get this info in bizpedia.com, corporation wiki or, if you know the name of the company and the state it is registered, you can check the company status at the state's website (generally it's the secretary of the state's site). But basically all Britney companies pre-cship are/were Lou/Jamie/Wallet managed.

https://docs.google.com/document/d/1nLohJShqmZiuvK1eHT5A76qK3115VWZW_wHBl1iD2SI/edit?usp=drivesdk

 

Also, Lou seems to have walked into a huge conflict of interest as she was/is the owner of Prime Capital Services/Stonebridge Wealth Manager with a Tri Star higher-up. Supposedly this company shot up from having no important wealth to take care of to $600 million dollars to take care, and that coincided with a move Jamie Lynn did as trustee.

 

 

 


Thanks for this.

There's been a lot of work put into that Google Doc.

I used to dig into these "215 Ward Circle" companies back in the day (e.g. 2009 to 2014), trying to figure this all out...I could always access it all for free, but then eventually it all went behind a paywall (maybe because I'm in another country?) I didn't feel like paying for it, so just gave up...I'm glad to see someone else digging into all of it.

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