Johnny Depp’s Former Managers Claim Actor Spent Millions On Luxuries In Lawsuit
Following a lawsuit brought to his former business team at by Johnny Depp, the management team, TMG, is cross-suing Depp for unpaid commission and credit card fees, and claiming, “Depp is responsible for his own financial waste.”
JOHNNY DEPP SUED BY FORMER MANAGEMENT TEAM
Depp sued The Management Group (TMG) for $25 million in a recent fraud lawsuit. “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,” says a statement.
In a cross-complaint, TMG blamed Depp for his own financial ruin, citing his reckless spending on things like multiple homes, expensive wines, and private jets. TMG is requesting $560,000 in allegedly unpaid commissions and credit cards, as well as a court declaration that it “complied with all of its fiduciary obligations under the law and that Depp is responsible for his own financial waste.”
The complaint claims that Depp spent the following amount of money on the following objects and experiences:
- $75 million on 14 homes in the US, France, and the Bahamas
- $18 million to buy and refurbish a yacht
- Millions on 45 luxury vehicles
- $30,000/month on wine
- $3 million to blast ashes of Hunter S. Thompson from a cannon in Aspen
- $200,000/month on private jets
- Millions on art collections and jewelry
- Millions on collectibles from celebs like Marilyn Monroe, John Dillinger, and Marlon Brando
- $10 million to support friends and family, plus a failed investment in a friend’s music label
- $450,000/month on personal employees and security guards
From the other side, Depp claims that TMG gave itself $28 million in fees without Depp’s consent, and also failed to pay his taxes on time, which resulted in a $5.6 million loss in penalties.
“In essence, TMG treated Mr. Depp’s income as their own, available to either TMG or third parties to draw upon as desired,” read Depp’s suit. As such, TMG denied these allegations. And as Depp claims TMG kept him in the dark about his financial troubles, the management company says they “repeatedly warned Depp about his precarious financial situation and often begged Depp to curb his spending and sell assets.” They also claim to have urged the actor to sign a pre-nup to secure his finances before his marriage to Amber Heard. The two are now going through a divorce.
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