Legal team proves TMG at

Johnny Depp ‘Doing Great,’ Responds To Claims He Squandered Millions

Johnny Depp has experienced a year of turmoil since things went sour with his now-ex-wife Amber Heard. The two became embroiled in a bitter divorce in the summer of last year after claims swirled that the couple were headed for a split.

To add to the negative press were the allegations brought against Depp by Heard, who claimed the Pirates of the Caribbean star had physically abused her over the course of their relationship. What followed were restraining orders and low-blows delivered by each legal team to the other, until an agreement and settlement were essentially forced on the feuding exes in early January.

Unfortunately, Depp’s troublesome times and negative press did not end there. In addition to being named by Forbes magazine as Hollywood’s most overpaid actor, the actor’s financial woes were then made front-page news due to a lawsuit he initiated against his former management team.

TMG had been responsible for Depp’s finances for years, yet the star came into money troubles leading up to his divorce from Heard. The actor placed blame on the management company for mismanaging his finances and failing to pay his taxes on time.

TMG responded earlier this year to the suit with a cross-complaint stating that it was Depp’s wild and irresponsible spending that has led him to financial difficulties. The management group then made a number of claims regarding the star’s spending habits that allegedly contributed to his current situation.

Variety shares the the statement issued by TMG against Depp.

“Depp often responded by rebuking and cursing his business managers for issuing such warnings and advice, while increasing his extravagant lifestyle and spending, and demanding that his business managers find some way to pay for it all. Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today. He has refused to live within his means, despite the best efforts of TMG and the repeated warnings about his financial condition from TMG and his other advisors.”

However, despite such a strong statement in response to Depp’s accusations, the actor’s legal team has reportedly managed to prove that TMG failed to pay the star’s taxes in a timely manner and therefore resulted in penalties amounting to over $8 million during the years that TMG was responsible for managing the star.

People shares details from Depp’s legal team regarding the suit.

“‘TMG snuck self-serving provisions into a bank loan agreement in a scheme to grab millions of dollars in payments for himself and other advisors on Mr. Depp’s film residuals…Today we have shown definitively that TMG systematically failed to pay Mr. Depp’s taxes on time for 16 straight years, leading to at least $8.3 million in penalties for Mr. Depp according to the IRS and the law firm that TMG itself hired.'”

The legal team also accuses TMG of simply attempting to smear Depp’s name as a means to overshadow any wrongdoing on their part, yet TMG has reportedly failed to prove any claims made against the star.

Although Johnny Depp has certainly had one trying year, sources close to the star insist that Depp is “doing great” and is focused fully on his career and upcoming projects. Murder on the Orient Express is one such project Depp has been working on, and the actor is reportedly excited about the release of the latest installment for the Pirates of the Caribbean franchise, which will hit theaters in May.

The insider shared, “Johnny is doing really great. He’s very happy. These days he’s mostly focused on his career. He’s got big films out later this year.”

[Featured Image by Frazer Harrison/Getty Images]

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