New report alleges Jamie Spears took out $40k loan days before enacting conservatorship

A new report from The New York Times further explores Britney Spears‘ controversial conservatorship and is reporting on new allegations concerning her father, Jamie Spears.

The investigation alleges the patriarch sought a $40,000 loan in 2008, less than a month before requesting his daughter’s conservatorship.  At the time he asked for the money, Britney was placed on psychiatric hold following a string of public outbursts and breakdowns.

The New York Times claims Jamie secured the loan through Britney’s former business manager, Lou Taylor, the head of Tri Star Sports & Entertainment Group.  The outlet says Jamie then approached the court after a couple of days and requested to take control of his daughter’s affairs.  Spears reportedly told the court that his daughter was unable to make decisions for herself because of her mental health struggles, and suggested he should be paid to help her. 

The judge approved Jamie Spears’ request, whereupon he hired Tri Star Sports & Entertainment Group — the company through whom he secured the loan — to manage his daughter’s business affairs.  

The New York Times said it was unable to determine how or where the $40,000 loan was used. Charles Harder, who is Lou Taylor’s attorney, insisted to the newspaper that the loan was eventually repaid and “had no affect on Tri Star’s work for the estate in later years.”

Meanwhile, Jamie’s attorney, Alex Weingarten, said his client “never” took a loan from Tri Star, and declared that the company “routinely loans money to clients.”

The New York Times adds that, over the course of Britney’s 13-year conservatorship, Jamie earned an estimated $6 million, while Tri Star collected five percent in “adjusted gross entertainment revenue” from the pop star.  Attorney Harder declined to clarify what that meant.

Britney’s conservatorship was terminated in November.

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