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Inside Lisa Marie Presley's $62 Million Divorce Web Of Lies!

Feb. 25 2019, Updated 11:48 a.m. ET

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Lisa Marie Presley has been busted in a bald-faced $62 million lie!

In Hollywood's ugliest divorce war, Elvis' daughter is claiming she's flat broke and doesn't have the dough to pay off baby daddy Michael Lockwood.

But Radar has learned Presley spends money like water and is sitting on a pot of gold.

"Lisa is living in a plush new million-dollar mansion in the Calabasas area and has another deluxe property in Malibu on the water," said an insider. "She drives a fancy Maserati and is never short of cash."

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"The idea that she's crying poverty is a joke to anyone who knows her," continued the insider. "She's absolutely loaded with cash, but she'll do anything to avoid paying Michael a dime more than she has to!"

The pair's bitter divorce battle has been raging since June 2016 when Presley, 50, claimed her spouse of ten years blew threw her money and had kiddie porn on his computer — a charge he denies.

Lockwood, 57, has fired back, maintaining Presley – who freely admits abusing drugs and booze during their marriage – is an unfit mother to their nine-year-old twin daughters.

In previous court depositions, the struggling musician testified he'd hit rock bottom, earning a paltry $25 per hour while working at a guitar store.

He wants $263,000 a year in alimony, claims he's entitled to that amount since Lisa Marie earns a whopping $4.2 million annually.

But Elvis's only child is pleading poverty.

The singer has accused former business manager Barry Siegel of mismanaging her dough, and she's suing him for breach of trust, negligence and constructive fraud.

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Presley is also claiming her share of Elvis's fortune is now only valued at around $20,000.

But in the couple's latest legal slugfest, Presley is battling to enforce their postnuptial agreement — which reveals she's fabulously wealthy.

According to the 2007 document, Presley is the sole trustee and beneficiary of the Promenade Trust, which owns 15 percent of Elvis Presley enterprises — and was worth $62.7 million at the time.

What's more, the document states neither partner shall be paid spousal support "at any time, regardless of circumstances" — meaning Lockwood isn't entitled to any alimony.

Lockwood has claimed that he was not aware of what he was signing, never read the document and its terms were never explained to him.

But Presley has argued his "feigning amnesia or ignorance" is nothing but an obvious money grab.

The source said: "Lisa detests Michael and is desperate to avoid paying him, while Michael suspects she's found a clever way to hide her money."

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"The truth remains that this is a woman who spends a fortune on designer clothes, shops at fancy stores constantly and checks into five-star hotels in Santa Barbara a few times a month," added the source.

"Sooner or later Lisa Marie will have to pay Michael off. That's her worst nightmare, and the scenario she's desperate to avoid."

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