Dr. Arnold Klein To Sell Michael Jackson Memorabilia

Posted by Joseph Lee on 01.03.2012

Along with Elizabeth Taylor...

Dr. Arnold Klein is now selling off memorabilia from several celebrities after going bankrupt during the investigation by the state medical board.

Bonhams & Butterfields will auction off various items that Klein currently owns. These include a Princess Leia wig that Carrie Fisher wore to a party (estimated value: $200); the hat that covered Michael Jackson's head when he left a hospital burn unit ($10,000) and an invitation to Elizabeth Taylor's eighth wedding ($350).

Fisher recently loaned Klein $150,000 to hire a new bankruptcy lawyer. He's been under investigation after it was rumored he gave Michael Jackson Demerol and got him hooked on drugs. The defense team for Dr. Conrad Murray made the same argument during his trial. They wanted to call him to the stand and the judge wouldn't allow it. Before the accusations, his business was already declining.

Klein's three homes, worth millions of dollars, are being sold off to help clear a total of $12 million in debt.

Dr. David Rish, one of his creditors, said: "You hate to see somebody who was so good fall to such low levels."

The "Collection of Dr. Arnold Klein" auction will take place January 23 in Los Angeles.