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Courtney to sue Cobain estate's 'looters'

Published: Wednesday, April 8, 2009, 11:19 [IST]

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New York (ANI): American rock musician-actress Courtney Love is contemplating dragging some of the people handling her late husband Kurt Cobain's estate to court, after realising that they have lost all the money that the Nirvana frontman had left for her and their daughter Frances Bean.

Her lawyer Rhonda J. Holmes, of Gordon & Holmes in San Diego, has revealed that Cobain's estate had been looted of more than 30 million dollars in cash, and up to 500 million dollars in real estate. According to reports, a team of investigators, forensic accountants and lawyers hired by Love made these findings.

"I have never seen such greed and moral turpitude. This case is going to make Bernard Madoff look warm and fuzzy," the New York Post quoted Holmes as saying. "We will be filing civil cases within the next 30 days. There are many, many millions missing. We've only been able to track down 30 million dollars, but there is more. And then there is the real estate," the lawyer added.

According to Holmes, bank accounts using Cobain, Love and Frances Bean's Social Security numbers were set up and used to buy and sell real estate across the US. "There is now a web of homes which were bought, flipped and used to launder money -- up to $500 million worth. Any of the property we can get back will be donated to people who have lost their homes in foreclosures," Holmes said.

When Holmes was asked how could that have happened, the lawyer said: "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 added: "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."

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