Spector's legal battles draining his funds

LOS ANGELES, April 8 (UPI) -- Phil Spector's legal battles, stemming from the 2003 death of Lana Clarkson in his home, are draining his considerable fortune, the Los Angeles Times said.

The famous music producer, who has acquired his wealth largely through royalties from songs he wrote or produced, is awaiting a verdict in his retrial for murder. A previous trial ended in a hung jury and a mistrial was declared. Spector, 69, reportedly is also facing a wrongful-death lawsuit by Clarkson's mother.

The Times said that since his arrest for allegedly shooting Clarkson, Spector has employed the services of at least 11 criminal defense attorneys, including one who charged $1 million for a year of representation, as well as four private investigators, five paralegals, a jury consultant and numerous expert witnesses.

"I doubt there is 1-10th of 1 percent of people in this country who can afford what Mr. Spector has had to put together so far for his defense," his current criminal attorney, Doron Weinberg, told the newspaper.

Spector's business lawyer declined to comment on the producer's financial status, but the Times said records suggest he has liquidated assets and taken out loans against his property to pay for his defense.

He also reportedly has considered selling the publishing rights to some of his music in order to raise money and is employing fewer lawyers and bodyguards than he has in the past.