Jackson, advisor settle lawsuit

Pop star Michael Jackson has settled a $12-million breach of contract lawsuit by his former top advisor, avoiding a trial that threatened to spill details of his financial empire and personal life into open court.

Jackson’s attorney, Zia Modabber, confirmed that the entertainer had settled his legal fight with Myung-Ho Lee and his firm, Union Finance and Investment Corp., but declined to discuss the terms.

Modabber said the two sides had reached a confidential agreement to settle Lee’s lawsuit and a countersuit by Jackson, and filed notice with Los Angeles Superior Court Judge Andria Richey on Wednesday. He said Jackson had signed off on the settlement.

Lee claimed in his lawsuit that Jackson hired him in the late 1990s to put his financial affairs in order, but refused to curb his spending and never paid for the services while relying on a series of “hucksters” for advice.

Jackson’s countersuit claimed that the man he called “Lawyer Lee” and Union Finance stole millions from him and destroyed financial records to cover up their misdeeds.