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Johnny Depp’s Managers Say Extravagant Lifestyle To Blame For Financial Woes

By Stacey Cole
Published on: 04:38 PST, Feb 27, 2017

Johnny Depp famously sued his former managers, The Management Group (TMG) for fraud, claiming that they had caused his financial problems due to their “negligence and misconduct,” and his former managers were quick to counter-sue the Pirates of the Caribbean star, alleging that his financial problems were solely due to his own extravagance.

Now, the Daily Mail has reported that Depp has brought another lawsuit against TMG, this time alleging that their mismanagement caused him to be fined $6 million by the IRS in penalties and fines from 2000 to 2015.

The Daily Mail cited TMZ, who claim to have seen legal documents in which the Pirates of the Caribbean star says he has documents to prove that TMG mismanaged and poorly handled his finances. The 53-year-old actor plans to show the documents to the judge in an attempt to progress his own matter, and to persuade the judge to dismiss TMG’s counter-suit against him.

But it is TMG’s countersuit that contains the real gems, as it alleges that the Pirates of the Caribbean star routinely racked up a bill of $30,000 per month on wine alone, and regularly spent $200,000 per month on a private plane. The countersuit also states that Johnny Depp has a staff of 40 people employed at his various residences around the world, with a combined salary expense of $300,000 per month.

Also, TMG alleges that Johnny Depp spent $18 million on a luxury yacht, and – most bizarrely – that he thought it was worth more than $3 million to have a specially made cannon prepared to “blast” the ashes of the late author Hunter Thompson over Aspen, Colorado.

While Johnny Depp is suing TMG for fraud and for breaching their fiduciary duties, The Management Group say that it was quite the opposite, that they “repeatedly warned” the Pirates of the Caribbean actor to real in his extravagant spending, and claimed that he was warned many times over the past 20 years that his lifestyle choices would lead him towards “financial ruin.”

Johnny Depp feels that TMG is taking a “blame the victim” approach, and maintains that did not bring a lawsuit based on his own personal financial decisions, but because TMG has allegedly committed fraud and breached their fiduciary duties.

The Daily Mail estimated that Johnny Depp’s role as Captain Jack Sparrow in the five Pirates of the Caribbean films so far would have earned him more than $250 million alone.

As to the particulars of Johnny Depp’s claims that TMG committed fraud and breached their fiduciary duty, it is alleged that his former managers took out loans without first seeking his approval and that they hid the “severity of his financial problems” from him. Also, Metro reported that Depp has alleged that TMG loaned $10 million of his money to third-parties, failed to file his taxes on time, and took $28 million in contingency fees that were not authorized by the actor.

The millionaire actor claims that he had no idea that his amassed fortune had reduced to such an extent until he was advised to sell his five-acre France château.

In their counterclaim, TMG has stated that Johnny Depp was warned on numerous occasions that his $2 million dollars per month lifestyle was beyond his means.

“Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today.”

[Featured Image by Jesse Grant/Getty Images]

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