Published Apr 07, 2009Well, Courtney Love better knuckle down and finally finish that solo album because it appears that poverty is right around the corner. Apparently, the living, breathing train wreck has had a moment of sobriety and discovered that she has lost all the money left to her and her daughter by the late Nirvana front-man, Love's lawyer told the New York Post.
According to the newspaper's report, a team of financial experts hired by Love found that Cobain's estate has been pillaged of more than $30 million cash and up to $500 million in real estate. "I have never seen such greed and moral turpitude. This case is going to make Bernard Madoff look warm and fuzzy," Love's lawyer Rhonda J. Holmes told the Post, adding that a civil case will be filed within the next 30 days concerning the misallocation of funds.
Holmes said that millions of dollars more may be missing and that bank accounts set up though the Social Security numbers of Cobain, Love and their daughter Frances Bean were used to buy and sell real estate across the U.S. "There is now a web of homes which were bought, flipped and used to launder money - up to $500 million worth," the lawyer said.
Despite having an obvious answer, the Post asked how all this could have happened. "Courtney noticed the money was gone when there wasn't any left. It's no secret she struggled with substance-abuse issues, but in the last year she's taken a more serious approach to sobriety and started noticing things were wrong. She hired private investigators, accountants and me," Holmes replied. "We are also working with local and federal authorities. When Mr. Cobain died in 1994, he left his enormously wealthy estate behind for the benefit of his mother, two sisters, a brother, his wife and young daughter. Many of those [involved with] the estate's coffers mismanaged, stole and outright looted it shamelessly."
The article made no mention of whether Cobain's ashes were among the looted real estate.