Lawyer: Jackson Will Cooperate

A raid on Michael Jackson's Neverland Ranch which authorities said was part of a criminal probe is reportedly linked to a child molestation allegation against the pop star. If the investigation includes an arrest warrant for Jackson, his attorney says he will cooperate.

There were several reports that the search warrant was tied to sexual abuse allegations brought by a 12- or 13-year-old boy. Court TV said Tuesday that a therapist reported disclosures by a Los Angeles-area boy who spent time at Neverland and began therapy several months ago.

There were also reports that officials had with them an arrest warrant for Jackson. His attorney, Brian Oxman, said on CBS News' The Early Show that that appeared to be true, and, if confirmed, "Michael will cooperate ... he has never been one to dodge the law enforcement's wishes and that's just his character."

Aside from saying it was part of an "ongoing criminal investigation," the Santa Barbara County Sheriff's Department would not comment on the purpose of Tuesday's search, involving more than 60 investigators, or on the reports.

Jackson, who reportedly was in Las Vegas when the search warrant was served, denounced media coverage in a statement.

"I've seen lawyers who don't represent me and spokespeople who do not know me speaking for me. These characters always seem to surface with dreadful allegations just as another project, an album, a video is being released," the Jackson statement said, referring to Tuesday's release of a greatest hits album, "Number Ones."

More than 10 years have passed since the 45-year-old singing superstar faced a child-molestation investigation in a case that never resulted in criminal charges. Jackson maintained his innocence but his career began to collapse amid the 1993 allegation. He reportedly paid a multimillion dollar settlement.

Oxman said he is suspicious of the latest allegations.

"Where there is one allegation which appears that someone made and then they receive some kind of payment, it induces additional allegations," he said.

The $12.3 million Neverland Ranch in the Santa Ynez Valley has a mansion, its own zoo and amusement park, and has often been the site of children's parties.

However, "it would be pretty hard to go after him for his money at this point," writer Maureen Orth, who recently wrote an in-depth article on Jackson for Vanity Fair magazine, told CBS News' The Early Show. "He's over $200 million in debt ... His spending habits are completely out of control."

Jackson is one of his own worst enemies, said Orth, but not his only one.

Jackson caused an international uproar last year when he displayed his baby, Prince Michael II, to fans by dangling him briefly from a fourth-floor balcony in Germany. Jackson called the incident a "terrible mistake."

Faced with bad publicity, poor album sales and debt, "I think that things do not bode well for him," Orth said.