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Michael Jackson trial: Pop star was 'tapped out,' millions in debt
Michael Jackson trial: Pop star was 'tapped out,' millions in debt

Despite receiving millions of dollars annually from his song catalogs, Michael Jackson year after year spent more than he earned, including $30 million in annual debt payments, a forensic accountant testified Monday. William R. Ackerman, testifying as a defense witness on behalf of AEG Live in the wrongful-death trial, offered a detailed look at the singer's finances, telling jurors that Jackson spent money on donations to charity, gifts, travel, art and furniture. "He spent a lot of money on jewelry," Ackerman said with a chuckle. PHOTOS: Michael Jackson | 1958-2009 Neverland Ranch -- which Ackerman called "a mini-theme park," with its maintenance...

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