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Johnny Depp Financial Woes: Actor Intends To Make Suit Against Former Management Team A Federal Case

By Jessica Dafoe
Published on: 07:01 PST, Aug 16, 2017

Johnny Depp’s legal battle with his former management team, TMG, continues to rage on and new details suggest that the Pirates of the Caribbean star is ready to take his suit against the Mendel brothers to the federal level.

As Deadline notes, Depp has enlisted the assistance of multiple government agencies to look into the case, one which was sparked due to alleged mismanagement of the star’s money, which has left him millions in debt.

The $25 million lawsuit launched by Johnny Depp claimed that the actor had been “swindled” out of millions and that he was the victim of fraudulent activity on the part of the Mendels. Deadline notes details from the suit.

“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,”

The Management Group’s legal team swiftly fired back accusing Depp and his wild spending as being the root of the star’s financial situation at present.

However, in July Judge Teresa Beaudet disallowed TMG’s motion regarding the statement that Johnny Depp “caused his own financial waste.” Claims of fraud made against Johnny by TMG’s legal team were allowed to stand.

The case will head to trial in January, should a settlement not be reached beforehand.

As to which federal agencies are investigating the manner that the Management Group managed Depp’s money, CNBC notes that the IRS and Justice Department are determining whether TMG is guilty of committing “fraud and money laundering.” Additionally, the SEC is determining how the group managed Depp’s finances.

Johnny Depp has experienced a tumultuous year, to say the least. From his very public and dramatic divorce from actress Amber Heard to this high-profile case against TMG due to his current financial struggles, it has not been smooth sailing for Johnny. However, the actor continues to carry on in his film career and has experienced great success with the most recent installation of the Pirates of the Caribbean franchise. That in itself was a big win for Johnny seeing as the star was named Hollywood’s most overpaid actor by Forbes earlier this year.

[Featured Image by Ian Gavan/Getty Images]

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