A hearing was held on Friday to determine if Jackson's financial records could be used as evidence in the trial. The prosecutors claim that Jackson is a "spendaholic" with "a billionaire spending habit for only a millionaire's spending budget". The prosecutors told Judge Rodney Melville that Jackson has debts of $300 million and that his liabilities could be as much as $400 million by the end of the year. 

"We have more than reason to believe that Michael Jackson is on the precipice of bankruptcy," Assistant District Attorney Gordon Auchincloss said.

The prosecutors believe that Jackson's financial problems led to an alleged conspiracy to kidnap Gavin Arvizo and his family. Arvizo is the underage accuser at the heart of the case against Jackson. Prosecutors believe that Jackson was desperate to protect his assets and wanted Arvizo and his family to rebuke damaging claims in a controversial TV documentary. 

Judge Melville withheld judgment on the matter and asked the attorneys for both sides to reach a compromise on what material should be used as evidence. 

The judge however did make a couple of decisions on Friday. On the Jay Leno "gag order" controversy, the judge said that Leno, who has been called as a potential witness at the trial, could joke about the case on the Tonight Show.  Leno is only restricted from joking about specific subjects that he may be called to testify about. 

The judge also denied the Jackson legal team request that the jury visit Jackson's Neverland Ranch. 

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