Feldman was once a friend of Michael Jackson, until a visit to Manhattan, where Feldman claimed that Jackson abandoned him while he and children left the city. During the 2005 Jackson molestation trial, Feldman alleged in a 20/20 interview that Jackson had shown him nude photos.[6] Feldman was subpoenaed as a witness and placed under a gag order.

In June 2008, Feldman said that he had been molested as a child. Amid speculation that the perpetrator was Michael Jackson, Feldman was quoted, in an interview for the July issue of GQ magazine, as saying:

"People can say whatever they want, but it wasn't Michael. He and I have our own issues, but that wasn't one of them. The bottom line is, I know who it was. I didn't know how to cut him off. Not only did I continue being friends with the guy, but he was working for me. The guy that did this to me was my assistant. He would come in when I was sleeping. I would wake up and I would know what was going on, but I would just try to ignore it and hope that he would go away, which is how kids who aren't ready to deal with something deal with it. I was still a virgin at the time. I hadn't even had sex with a girl. So for me it was just kind of bewildering. Despite what people think, I was actually very innocent and very naïve at the time. I was your typical American kid."

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