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Kate Jackson says she’s in “financial ruin”

http://images.starpulse.com/Photos/pv/Kate%20Jackson-7.jpg

http://newsimg.bbc.co.uk/media/images/42021000/jpg/_42021636_angels1_416ap.jpgShe was supposed to be the smart one on Charlie’s Angels, but now Kate Jackson says she’s broke.

The 61-year-old actress, who also starred in the hit shows The Rookies and Scarecrow and Mrs. King, has filed a lawsuit in Los Angeles Superior Court against her former financial advisor seeking $3 million in damages.

According to TMZ.com: Jackson claims Farrah Fawcett’s former business manager, Richard B. Francis, knew about Kate’s “extremely close relationship” with Farrah and used that information to get Kate as a client.

Kate claims Francis told her she was worth roughly $5.4 million — and she could live off of the interest from her accounts … at least $300,000 per year. But Jackson said she was actually worth considerably less — only about $3 million. She claims she learned the truth about her finances when she agreed to buy a home in 2008 – a home  she claims Francis knew she couldn’t afford but he drained her savings account in order to pay for it anyway. Kate also claims Francis knew she was grossly overpaying for the property.

Kate played Michael Ontkean’s wife in the landmark 1982 movie Making Love but  has not starred in a TV series since the 1988-89 show Baby Boom. Still, she has dozens of TV movies and television credits over the past two decades. She made a memorable appearance at the 2006 Emmys with Fawcett and Jaclyn Smith and was close to Farrah until her death last year from cancer.

FILE UNDER: Controversy

Comments

(All comments are reviewed before being published, and I review submissions several times per day.)

5 Remarks

  1. May 11th, 2010 at 11:45 am
    JontheMoonspinner says:

    Poor Kate! These are tough times, even for Angels. I certainly wish her well.

  2. I certainly feel sorry for Kate’s misplaced trust. However, this headline if very misleading if not outright wrong. If she had $3M vs $5.4M that isn’t broke. Even if she used it overpay for a house, she still has some net worth. I agree with her suing if the guy ripped her off, but she is not broke.

  3. She was an underrated actress. If Aaron Spelling had let her play the lead role in ” Kramer v Kramer” which defaulted to Meryl Streep, her career would have been more rewarding and lucrative. It’s a shame, she was a much better actress than the critics said. Jackson was very good early on in Dark Shadows.”

  4. (Please erase my previous comment as I have added the corrections here!)Kate Jackson was treated like ” G A R B A G E ” by Aaron Spelling and Leonard Goldberg. Now I love Jaclyn Smith and Farrah Fawcett but Kate was hired first because she is a classically trained actress. She graduated from the Academy Of Dramatic Arts and was why the head of ABC Fred Silverman green lit the show in the first place! She deserved a hell of a lot more respect than S/G gave her. They bent ass over backwards to keep Farrah happy so she would stay on Charlie’s Angels but wouldn’t let Kate do Kramer vs. Kramer, A role that would have garnered her a nomination at least and propelled her career into another stratosphere. Personally I would never get over it! So for her to show up and honor him at The Emmy’s was pretty big of her!

  5. September 1st, 2016 at 7:36 pm
    1970s were cool says:

    Farrah Fawcett was to get the starring role in “Coma” a popular thriller movie with Michael Douglas and Elizabeth Ashley, soon after leaving Charlie’s Angels. As we all know, Farrah was a very good dramatic actress. She was blacklisted because of her departure from the tv show and the part was transferred to Genevieve Bujold who made a major comeback in “Coma.” So it’s understandable why Kate and Farrah were resentful.

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