Johnny Depp seems to have fallen into some financial troubles, according to his management The Management Group (TMG). As a result of his financial distress, Depp is suing his management group for $25 Million. He believes they have been mismanaging his money for years. They claimed that the actor was rather loose with is expenses stating he would spend $2 million a month. Depp’s lawyers, however, claimed, “As a result of years of gross mismanagement and sometimes outright fraud, Mr. Depp lost tens of millions of dollars and has been forced to dispose of significant assets to pay for TMG’s self-dealing and gross misconduct.”
TMG still cannot fathom how they are at fault. In fact, in a lawsuit they filed, they said Johnny Depp had unpaid commissions and credit card fees, which were worth about $560,000. And he needed to pay them. Moreover, TMG also wants a court declaration which states what Johnny Depp was responsible for when dealing with his money. They also warned him to get a prenup when he married the actress, Amber Heard. Depp’s family also warned him to get a prenup. The failed marriage ended up costing him a $7 million dollar settlement.
Depp’s lawsuit had claimed his former management company had allegedly taken over $28 million in fees, without his consent. In addition, they failed to pay his taxes on time. This resulted in him having to pay $5.6 million in fees and penalties. The company had loaned people money, again, without his consent.
TMG did state that they had paid is taxes on time. They also stated they kept good records of his finances, which they claimed were “state-of-the-art accounting records.”
His management company has also stated that the actor owes them $4.2 Million in loan fees. This was back in 2012. In order to pay his loan, TMG started foreclosing on some of Depp’s properties in October of 2016.
Depp said in his complaint, he wants a temporary restraining order and permanent injunction prohibiting them from foreclosing on his home. TMG claims he is stalling, though.
