Pop star Michael Jackson on Wednesday settled a $12 million lawsuit by his former top adviser, avoiding a trial that threatened to spill details of his financial empire and personal life into open court.

Jackson is shown at an award ceremony, in Berlin November 21, 2002.

"The Jackson case filed a notice of confidential settlement," Los Angeles Superior Court spokesman Kyle Christopherson said.

Zia Modabber, an attorney for the 44-year-old "King of Pop," confirmed to Reuters that the case had been settled but declined to discuss the terms. Lawyers for Myung-Ho Lee, who was suing him for breach of contract and fraud, could not immediately be reached for comment.

Lee claimed that Jackson hired him to put his financial affairs in order but refused to curb his spending and never paid for the services, preferring to rely on a series of "charlatans," "hucksters" and "sycophants."

Lee also called Jackson a "ticking financial time bomb" who was in imminent danger of going bankrupt. The singer counter-sued, claiming that the man he called "Lawyer Lee" had stolen from him.