Charlie's Angel in Financial Hell

Kate Jackson is suing business manager for more than $3 million; says he left her finances in shambles

Maybe Kate Jackson was only meant to do business with disembodied voices.

The former Charlie's Angels beauty is suing her ex-business manager for upward of $3 million, alleging that he overstated her net worth and then gave her a slew of bad advice, ultimately leaving her in "financial ruin."

Jackson, who was brainy Angel Sabrina, states that she believed that Richard B. Francis, who she met through pal Farrah Fawcett, "truly cared about her well-being," and he betrayed the trust that their so-called friendship inspired.

 

Jackson alleges that when she was looking to buy a new home in 2008, Francis informed her that she was worth roughly $5.4 million and persuaded her to purchase a Santa Monica property that was selling for upward of $2 million, even though she told him she wanted to spend more in the ballpark of $1 million.

The lawsuit states that the house would never have been worthy the $2,011,000 she paid "even at the height of the economy," and that she later learned Francis had tacked $2.5 million that she didn't have onto his estimate of her net worth.

In fact, the suit continues, Jackson only had $3 million in an IRA, which Francis tapped to pay for the mortgage on the house, which the actress later learned had an open septic tank and a "mold condition."

Now, Jackson's camp says, she has "suffered financial ruin at the hands of the very person she entrusted with her finances."

Meanwhile, Francis tells TMZ that he has 50 years of unblemished experience and in no way caused Jackson's current financial difficulties.

"This case will end at the deposition stage. It will never go to court," he says.