Why was Jamie Spears broke before the CON when he had multiple jobs & businesses?

[Mx_Defying]

How was Jamie Spears so broke before the conservatorship when he owned multiple businesses and had multiple jobs?

That’s 🇺🇸 for you!

Link with sources

[CosmicStan]

Interesting diagram, insane how extensive this is. I thought the man is just incredibly stupid and probably can't handle his finances either.

[Mx_Defying]

1 hour ago, CosmicStan said:

Interesting diagram, insane how extensive this is. I thought the man is just incredibly stupid and probably can't handle his finances either.

If Jamie had HUGE GAMBLING 🎰 DEBTS and is an ALCOHOLIC 🍻isn’t it important that he was in bed with the owners of the PALMS CASINO in 2008!

Literally: Did Jamie TRAFFICK or BET Britney to CASINO BOSSES⁉️

I have no clue 🕵🏻‍♀️ (besides money & power) why the press NEVER reports about Jamie’s relationship with the Maloofs. 

https://ibb.co/HgRyJQc

I’m not even close to done with my huge connection map!

Edited July 2, 2022 by Mx_Defying

[Steel Magnolia]

How long is the average stay in rehab?

July 26, 2004 - Britney's estimated $100-million fortune is placed into the SJB Revocable Trust. Britney is the sole Trustee. The Trust includes all of Britney's corporations: BBS Entertainment Inc., Britney Brands, Inc., Britney Films, Inc., Britney On-Line, Inc., Britney Television, LLC, One More Time Music, Inc., Parklane Productions, LLC, Coastal Operatives, LLC, B & L Music, Inc., Fairy Zone Productions, Inc. (California), Bridgemore Timber, LLC, Vista Peace Productions, LLC, Britney Touring, Inc. (the "Entities"), and Fairy Zone Productions, Inc. (Delaware). The Trust also includes all of Britney's  stocks and securities, cash and cash equivalents such as bank and savings accounts, and personal items such as jewelry, vehicles, and clothing. There are five ways to contest a trust in the state of California: Undue influence, mental incompetence, forgery, a defect in the document, and multiple trust documents.

Source: Assignment To The SJB Revocable Trust, July 26, 2004.

Source: Declaration of Ivan Taback, March 11, 2008.

Source: "How To Contest A Trust In California," The Law Offices of Daniel A. Hunt. Accessed June 7, 2022 from https://www.dhtrustlaw.com/how-to-contest-a-trust-in-california/

Aug. 21, 2004 - James Spears is released from a rehabilitation facility in Malibu after being treated for alcohol addiction. He is picked up from the facility by Britney and Kevin Federline.

Source: https://www.shutterstock.com/editorial/image-editorial/britney-spears-dad-comes-out-of-rehab-california-america-21-aug-2004-483906c

[Mx_Defying]

24 minutes ago, Steel Magnolia said:

How long is the average stay in rehab?

July 26, 2004 - Britney's estimated $100-million fortune is placed into the SJB Revocable Trust. Britney is the sole Trustee. The Trust includes all of Britney's corporations: BBS Entertainment Inc., Britney Brands, Inc., Britney Films, Inc., Britney On-Line, Inc., Britney Television, LLC, One More Time Music, Inc., Parklane Productions, LLC, Coastal Operatives, LLC, B & L Music, Inc., Fairy Zone Productions, Inc. (California), Bridgemore Timber, LLC, Vista Peace Productions, LLC, Britney Touring, Inc. (the "Entities"), and Fairy Zone Productions, Inc. (Delaware). The Trust also includes all of Britney's  stocks and securities, cash and cash equivalents such as bank and savings accounts, and personal items such as jewelry, vehicles, and clothing. There are five ways to contest a trust in the state of California: Undue influence, mental incompetence, forgery, a defect in the document, and multiple trust documents.

Source: Assignment To The SJB Revocable Trust, July 26, 2004.

Source: Declaration of Ivan Taback, March 11, 2008.

Source: "How To Contest A Trust In California," The Law Offices of Daniel A. Hunt. Accessed June 7, 2022 from https://www.dhtrustlaw.com/how-to-contest-a-trust-in-california/

Aug. 21, 2004 - James Spears is released from a rehabilitation facility in Malibu after being treated for alcohol addiction. He is picked up from the facility by Britney and Kevin Federline.

Source: https://www.shutterstock.com/editorial/image-editorial/britney-spears-dad-comes-out-of-rehab-california-america-21-aug-2004-483906c

30 days for regular or poor people. 

[Steel Magnolia]

6 minutes ago, Mx_Defying said:

30 days for regular or poor people. 

I wonder if Britney waited until Jamie was safely in rehab to squirrel her money away in the SJB Revocable Trust?

If he got out on August 21st...Then he likely went in around July 21st.

Either way...

Interesting timing.

[Steel Magnolia]

53 minutes ago, Mx_Defying said:

If Jamie had HUGE GAMBLING 🎰 DEBTS and is an ALCOHOLIC 🍻isn’t it important that he was in bed with the owners of the PALMS CASINO in 2008!

Literally: Did Jamie TRAFFICK or BET Britney to CASINO BOSSES⁉️

I have no clue 🕵🏻‍♀️ (besides money & power) why the press NEVER reports about Jamie’s relationship with the Maloofs. 

https://ibb.co/HgRyJQc

I’m not even close to done with my huge connection map!

Blair Berk is a criminal defence attorney.

It feels like we're inching closer to what her true function within the CON might have been.

[SpaceFunk]

Because he's a **** up.

[MikeHunt]

He spent it on booze and höôkers

[Mx_Defying]

1 hour ago, Steel Magnolia said:

Blair Berk is a criminal defence attorney.

It feels like we're inching closer to what her true function within the CON might have been.

My speculative hunch is they set Britney up for some kind of crime & it’s resolution involved being conserved due to a “lack of capacity”. Berk’s friend Harvey Levin of TMZ said that they got info that was so horrible involving Britney & her kids that they did not publish it. It had “accidentally” not been redacted in the Team Con’s court filings.  Harvey said this on Laura Wasser’s podcast. 

[RebellionSparkles]

Jamie lost all his money to booze and gambling. And Britney cut him off so he had to steal her money.

one thing I started to look at but hadn’t had time yet…Coogan accounts.

Parents of child stars are required to put 15% of the child’s earnings into a “Coogan Trust”…it’s a law designed to prevent families from fully squandering a minor’s earnings.
Jamie in 1997 was in charge of Britney’s trust…im thinking something fishy started around this time with B’s Coogan account.

im wondering if something similar happened to Britney as what is happening to Wendy Williams…maybe the bank helped put B in a CON

[SonOfSun]

How on earth is it possible that the Court allowed this man who is a total looser, with a serious drinking problem since forever, and constantly in debt with obviously no intelligence and knowledge on how to manage money…  to control Britney’s huge Fortune and personal life and healthcare?

How can an alcoholic forbid his daughter (with no drinking problem!) to drink alcohol ? 

Britney already gave him his chance, and help him with the restaurant Nyla in New York in 2002 and it was a shameful catastrophe…

 

[Grace Kelly]

18 minutes ago, SonOfSun said:

How on earth is it possible that the Court allowed this man who is a total looser, with a serious drinking problem since forever, and constantly in debt with obviously no intelligence and knowledge on how to manage money…  to control Britney’s huge Fortune and personal life and healthcare?

How can an alcoholic forbid his daughter (with no drinking problem!) to drink alcohol ? 

Britney already gave him his chance, and help him with the restaurant Nyla in New York in 2002 and it was a shameful catastrophe…

 

Yes, that is what gets me about the whole thing. Unfortunately you will always get the Jamie Spears of this world; however, the court system that is supposed to protect people, did no due diligence on his background whatsoever. I can't imagine a worse person (short of a convicted criminal) to be a conservator even if it was required for Britney (and my belief is it was not).    

[Steel Magnolia]

9 hours ago, Mx_Defying said:

My speculative hunch is they set Britney up for some kind of crime & it’s resolution involved being conserved due to a “lack of capacity”. Berk’s friend Harvey Levin of TMZ said that they got info that was so horrible involving Britney & her kids that they did not publish it. It had “accidentally” not been redacted in the Team Con’s court filings.  Harvey said this on Laura Wasser’s podcast. 

That's always been my hunch as well.

It's only recently that I've opened my mind to the idea that Berk's role was to conceal Jamie's crimes and not Britney's.

Either way...

We recently came across the five ways in which a trust can be contested in the state of California:

1. Undue influence.
2. Mental incompetence.
3. Forgery.
4. A defect in the document.
5. Multiple trust documents.

The last three wouldn't apply to Britney since the creation of the SJB Revocable Trust was legit.

So what does that leave us with? 

[BritneyGXKB]

Because he’s an interminable alcoholic and an incompetent businessman? 

[IsraeliMatt]

Individuals who are as sick and incompetent as Jamie Spears can find many ways to make money disappear. Presumably quite a bit went to his vices, and little to none of the money he's ever received has been converted into forms that can grow. Isn't he living in a trailer now? That really says it all, that he'd be a flop financially after pocketing millions from his daughter. 

[s&m]

what are you guys talking? Jamie is brilliant 

Spoiler

at tanking 

 

[Mx_Defying]

On 7/2/2022 at 8:40 AM, BritneyGXKB said:

Because he’s an interminable alcoholic and an incompetent businessman? 

My point was less about Jamie squandering money because clearly he is not good at money management, but more so WHY does the media not cover all the business relationships Jamie had with the billionaire Maloo family between 2006 and 2009? It smells of a cover-up.

[Mx_Defying]

On 7/2/2022 at 8:12 AM, Steel Magnolia said:

That's always been my hunch as well.

It's only recently that I've opened my mind to the idea that Berk's role was to conceal Jamie's crimes and not Britney's.

Either way...

We recently came across the five ways in which a trust can be contested in the state of California:

1. Undue influence.
2. Mental incompetence.
3. Forgery.
4. A defect in the document.
5. Multiple trust documents.

The last three wouldn't apply to Britney since the creation of the SJB Revocable Trust was legit.

So what does that leave us with? 

Great point!

[jordeezy river red]

None of this would shock me. I know a man who bet his house in poker and lost it to a cartel-like guy who ran a tow company until he died.