Johnny Depp is hitting back at his former financial managers who he claims are responsible for his hefty tax problems that amount to roughly $6 million in penalties and fines imposed by the IRS.
Depp initially filed a lawsuit against his ex-managers for fraud, misconduct, and negligence that led to his financial troubles. However, the financial management firm hit back with a counter-lawsuit claiming that the Pirates Of The Caribbean actor was responsible for his own financial distress due to frivolous spending.
— Wafer'ка (@Wafer_Johnny) February 13, 2017
Depp claims the management firm cost him $6 million
Johnny’s initial lawsuit against The Management Group (TMG) sought $25 million in damages on the grounds that they defrauded him. The two parties have been going back and forth in their legal battle especially considering that TMG also filed a countersuit. The actor now claims that the firm’s poor mismanagement of his finances led to the accumulation of penalties and fines to the tune of $6 million owed to the IRS between 2000 and 2015.
Johnny aims to use the evidence of mismanagement to toss out the countersuit
TMG’S countersuit against the Hollywood star aimed to prove that he was responsible for his own financial troubles due to his expensive spending habits. However, Johnny already paid the penalties but he seeks to use the misconduct claim to convince the judge presiding over the case to throw out the countersuit.
“(TMG) have chosen to employ a reprehensible ‘blame the victim’ strategy in a transparent attempt to save their own skin and deflect away from their malfeasance, which is chronicled in Mr. Depp’s 48-page complaint,” Depp’s lawyer Adam Waldman pointed out.
There is a chance that Depp’s plan might work because it will be proof of poor performance from the management firm. The 53-year-old terminated his contract with TMG in 2015. His new management also confirmed that the penalties were as a result of misconduct and negligence during the time that TMG handled his financial matters. This is one of the reasons behind Johnny’s decision to file a lawsuit against the company. TMG claimed in their countersuit that they had on numerous occasions warned Depp against spending too much.
The firm stated that it told the actor that his expensive spending over the past two decades would most likely leave a huge dent in his finances and that it would sooner or later catch up with him. TMG handled Johnny’s finances for quite a long time and was with him even in his prime acting years especially during the time he acted the Pirates Of The Caribbean franchise. It was arguably his most successful period.
Depp is also not the first celebrity who has been victimized by poor management. A few years ago, Nicolas Cage also went through a similar situation with his financial managers. However, Depp has also been facing a lot of backlash for spending too much money over a short period of time. Critics claim that this is part of the reason he has been having financial troubles. Reports claim that he spent $18 million to acquire a luxury yacht and roughly $3 million to blast the ashes of author Hunter Thompson from a cannon. Johnny also acquired numerous properties over a short period of time.
— Kevin (@kevin_la44) February 20, 2017
Prior to the legal battle with TMG, Johnny had also been in the spotlight due to his divorce proceedings with ex-wife Amber Heard. The iconic star was supposed to pay heard a couple of millions as per the divorce settlement but he found himself under allegations of failing to pay due to the slow process. Depp’s financial problems have since then turned into a legal battle with his former financial manager.
[Featured Image by Charley Gallay/AP Images]