Almost as soon as he received the judgment in his divorce from ex-wife Amber Heard, Johnny Depp took a long hard look at his finances and discovered he wasn’t doing quite as well as he thought. Depp immediately took to tracking down where millions of dollars in assets had gone, which, in turn, led him to discover his managers, Joel and Rob Mandel, under the company name of The Management Group, seemed to be responsible for the loss of funds. The subsequent suit filed by Mr. Depp was only the first step in what is now becoming a bitter war of accusations.
Johnny Depp Says The Management Group “Clearly Let Me Down”
In January, Johnny initiated the lawsuit against his former managers, and as The Hollywood Reporter reveals, the lawsuit was prompted when Depp’s current managers discovered errors that cost Johnny millions. Among the discrepancies, the actor is charging that The Management Group collected fees to which he had never agreed, failed to file the actor’s income taxes on time, and loaned out Depp’s money without the actor’s knowledge.
Filing a countersuit, Joel and Robert Mandel say they had done what they could to safeguard Johnny’s money, but, in the end, they contend that it was Johnny’s extravagant spending that led to his loss of those millions.
The Pirates of the Caribbean: Dead Men Tell No Tales star says his spending is his own business.
“It’s my money,” said Depp. “If I want to buy 15,000 cotton balls a day, it’s my thing.”
The countersuit filed by The Management Group asserts that Depp was knowingly spending over $2 million per month, against the advice of his ex-managers. The Mandel brothers add that Johnny is solely responsible for his debts and loss of money, suggesting that Mr. Depp was a troublesome client for Joel and Robert to handle.
“Why didn’t they drop me as a client if I was so out of control?” Johnny said in a recent interview. “I’ve worked very, very hard for a lot of years and trusted a lot of people, some who’ve clearly let me down.”
In his lawsuit, Johnny Depp is seeking $25 million from Joel and Rob Mandel for losses accrued due to negligence and fraud.
The Management Group Warns That Johnny Depp is a “Habitual Liar”
USA Today received a statement from The Management Group spokesperson, David Shane, in response to Johnny Depp’s recent public comments about the company and the lawsuit. In the statement, Shane says both Johnny and his sister were involved in every major business decision made over the past 17 years, suggesting that nothing was done without Mr. Depp’s awareness.
“[Johnny Depp is a] habitual liar who denies responsibility for his own outrageous conduct and coerces others to lie for him,” said Shane in the statement.
The lawsuit spells out Depp’s purchases, revealing that the Pirates of the Caribbean: Dead Men Tell No Tales star spent more than $75 million to maintain 14 homes around the world. Included in that number is a French chateau and a chain of small islands in the Bahamas.
The Management Group also contends that Mr. Depp spent more of his fortune on a 150-foot yacht, private jets, and a collection of fine art and pop culture memorabilia. That collection of art and memorabilia is maintained in a total of 12 storage facilities.
When asked for a response, Johnny’s lawyer, Adam Waldman of the Endeavor Group, said The Management Group is fearful that testimony from an ex-employee will damage their case against Depp.
“The unsealing of the whistleblower testimony, which describes various forms of thievery by Mandel and his firm of Mr. Depp’s assets, would soon end this discussion,” Waldman said.
[Featured Image by Christopher Polk/Getty Images]