Prosecution Seeks Michael Jackson's Financial Records

In a motion hearing Friday, prosecutors told Judge Rodney Melville that Michael Jackson's deteriorating financial situation was a motive for the pop singer to try to counteract the effects of Martin's Bashir's documentary would have on his ability to make money.

Prosecutors are seeking the financial records of Jackson to show that he is $450 million in debt and on the brink of bankruptcy. Senior deputy district attorney Gordon Auchincloss said Jackson spends $35 million annually, but only makes $12 million. "He has a billionaire's spending habit, but a millionaire's budget," Auchincloss said.

Judge Melville postponed a ruling on the motion until Thursday to give both sides the opportunity to work out a solution, because he previously ruled that the prosecution will be allowed to inform the jury of some aspects of Jackson's financial situation.

In other rulings Friday, Judge Melville ruled:

• Denied a defense motion to take the jurors to see Neverland Ranch, saying the videotapes would suffice.

• Ruled that his gag order was not intended to stop comedian Jay Leno from doing what he does to earn a living, as long as he didn't comment on specifics of what he intended to testify to in the case. "I'd like him to tell good jokes, not bad ones, but I guess I can't control that anyway," the judge said.

Before Melville's ruling, Leno showed up "late" for the taping of "The Tonight Show" wearing Sponge Bob pajamas and wearing bunny slippers. He was escorted into the studio by bodyguards with a umbrella and refused to answer questions when asked why he was late.

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Prosecutors: Michael Jackson on the Brink of Bankruptcy