Michael Jackson's 'bank loan aliases'
- Bang Showbiz
- 3 July 2009
Debt-ridden Michael Jackson was reportedly so desperate for money he applied for bank loans under 20 different names because his credit rating was so poor
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 $1 million, 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 own 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 yesterday (02.07.09) - have been revealed.
Michael's mother Katherine Jackson will reportedly get 40 per cent of the assets, his three children will get a further 40 per cent and the remaining 20 per cent will be donated to several children's charities.